Sumitomo Mitsui DS Asset Management Company Ltd Buys 212 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,196 shares of the technology company’s stock after acquiring an additional 212 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Cogent Communications were worth $400,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its position in Cogent Communications by 207.0% during the 3rd quarter. GAMMA Investing LLC now owns 660 shares of the technology company’s stock valued at $50,000 after purchasing an additional 445 shares during the last quarter. Creative Planning raised its position in Cogent Communications by 40.1% during the 3rd quarter. Creative Planning now owns 17,618 shares of the technology company’s stock valued at $1,338,000 after purchasing an additional 5,043 shares during the last quarter. Inspire Advisors LLC raised its position in Cogent Communications by 11.4% during the 3rd quarter. Inspire Advisors LLC now owns 29,349 shares of the technology company’s stock valued at $2,228,000 after purchasing an additional 2,995 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Cogent Communications by 204.5% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock worth $31,000 after acquiring an additional 272 shares during the period. Finally, Vest Financial LLC purchased a new position in shares of Cogent Communications during the 3rd quarter worth approximately $207,000. Institutional investors own 92.45% of the company’s stock.

Wall Street Analyst Weigh In

Separately, UBS Group started coverage on Cogent Communications in a research note on Thursday, November 14th. They issued a “buy” rating and a $102.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $80.25.

Cogent Communications Price Performance

NASDAQ CCOI opened at $81.92 on Thursday. The business’s fifty day moving average price is $75.78 and its 200-day moving average price is $76.16. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 105.03 and a beta of 0.40. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. Cogent Communications Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $86.76.

Insider Activity

In other Cogent Communications news, Director Lewis H. Ferguson sold 846 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $81.76, for a total transaction of $69,168.96. Following the sale, the director now directly owns 18,354 shares of the company’s stock, valued at $1,500,623.04. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Henry W. Kilmer sold 4,800 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $75.61, for a total value of $362,928.00. Following the sale, the vice president now directly owns 33,800 shares in the company, valued at approximately $2,555,618. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,506 shares of company stock valued at $1,647,631 in the last ninety days. 11.40% of the stock is currently owned by company insiders.

Cogent Communications Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, 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.