Teacher Retirement System of Texas Sells 13,900 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Teacher Retirement System of Texas cut its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOIFree Report) by 53.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,005 shares of the technology company’s stock after selling 13,900 shares during the period. Teacher Retirement System of Texas’ holdings in Cogent Communications were worth $743,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CCOI. Panagora Asset Management Inc. boosted its stake in Cogent Communications by 7.2% in the 3rd quarter. Panagora Asset Management Inc. now owns 9,765 shares of the technology company’s stock valued at $604,000 after buying an additional 657 shares in the last quarter. Jennison Associates LLC boosted its stake in Cogent Communications by 44.4% in the third quarter. Jennison Associates LLC now owns 565,388 shares of the technology company’s stock worth $34,998,000 after purchasing an additional 173,796 shares in the last quarter. Capital Insight Partners LLC boosted its stake in Cogent Communications by 3.6% in the third quarter. Capital Insight Partners LLC now owns 57,266 shares of the technology company’s stock worth $3,545,000 after purchasing an additional 1,994 shares in the last quarter. Phillips Wealth Planners LLC boosted its stake in Cogent Communications by 46.8% in the third quarter. Phillips Wealth Planners LLC now owns 6,032 shares of the technology company’s stock worth $390,000 after purchasing an additional 1,922 shares in the last quarter. Finally, Skylands Capital LLC boosted its stake in Cogent Communications by 1.0% in the third quarter. Skylands Capital LLC now owns 105,025 shares of the technology company’s stock worth $6,501,000 after purchasing an additional 1,050 shares in the last quarter. 85.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cogent Communications news, Director Blake Bath sold 379 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $67.00, for a total value of $25,393.00. Following the completion of the sale, the director now directly owns 27,941 shares in the company, valued at $1,872,047. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Blake Bath sold 379 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $67.00, for a total transaction of $25,393.00. Following the completion of the transaction, the director now directly owns 27,941 shares of the company’s stock, valued at $1,872,047. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dave Schaeffer sold 3,396 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $64.31, for a total value of $218,396.76. Following the transaction, the chief executive officer now directly owns 4,797,194 shares of the company’s stock, valued at $308,507,546.14. The disclosure for this sale can be found here. Insiders sold 63,790 shares of company stock worth $4,332,256 over the last ninety days. 11.40% of the stock is currently owned by corporate insiders.

Cogent Communications Trading Up 0.7 %

NASDAQ CCOI opened at $77.62 on Wednesday. The stock has a 50-day simple moving average of $72.24 and a 200 day simple moving average of $67.66. The company has a market capitalization of $3.77 billion, a PE ratio of 3.43 and a beta of 0.42. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 3.09. Cogent Communications Holdings, Inc. has a 12 month low of $57.35 and a 12 month high of $79.50.

Cogent Communications (NASDAQ:CCOIGet Free Report) last announced its quarterly earnings results on Thursday, November 9th. The technology company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.26). The business had revenue of $275.43 million during the quarter, compared to the consensus estimate of $280.70 million. Research analysts forecast that Cogent Communications Holdings, Inc. will post -2.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on CCOI. StockNews.com lowered Cogent Communications from a “hold” rating to a “sell” rating in a research note on Monday, November 13th. TheStreet lowered Cogent Communications from a “b-” rating to a “c+” rating in a research note on Thursday, November 9th. Finally, The Goldman Sachs Group upped their price target on Cogent Communications from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $75.38.

View Our Latest Report on Cogent Communications

Cogent Communications Company Profile

(Free Report)

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Asia, South America, Australia, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, Web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.

See Also

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Institutional Ownership by Quarter for Cogent Communications (NASDAQ:CCOI)

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