Redmond Asset Management LLC Trims Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Redmond Asset Management LLC reduced its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,276 shares of the technology company’s stock after selling 1,504 shares during the quarter. Cogent Communications comprises about 2.4% of Redmond Asset Management LLC’s investment portfolio, making the stock its 4th biggest position. Redmond Asset Management LLC owned 0.26% of Cogent Communications worth $9,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Ipswich Investment Management Co. Inc. boosted its position in shares of Cogent Communications by 3.4% during the fourth quarter. Ipswich Investment Management Co. Inc. now owns 42,479 shares of the technology company’s stock valued at $3,274,000 after buying an additional 1,400 shares during the period. Bryn Mawr Capital Management LLC boosted its position in shares of Cogent Communications by 8,542.8% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 237,678 shares of the technology company’s stock valued at $18,318,000 after buying an additional 234,928 shares during the period. Principal Financial Group Inc. boosted its position in shares of Cogent Communications by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 206,196 shares of the technology company’s stock valued at $15,892,000 after buying an additional 6,235 shares during the period. Prairieview Wealth Partners LLC boosted its position in shares of Cogent Communications by 9.8% during the fourth quarter. Prairieview Wealth Partners LLC now owns 10,742 shares of the technology company’s stock valued at $828,000 after buying an additional 960 shares during the period. Finally, Consolidated Planning Corp boosted its position in shares of Cogent Communications by 36.0% during the fourth quarter. Consolidated Planning Corp now owns 11,288 shares of the technology company’s stock valued at $870,000 after buying an additional 2,988 shares during the period. 92.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group initiated coverage on Cogent Communications in a research report on Thursday, November 14th. They set a “buy” rating and a $102.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $80.25.

Cogent Communications Stock Down 1.9 %

Shares of NASDAQ CCOI opened at $79.93 on Friday. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 102.47 and a beta of 0.40. The stock has a 50 day moving average price of $76.50 and a 200 day moving average price of $76.79. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76.

Insider Activity at Cogent Communications

In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $76.60, for a total transaction of $147,072.00. Following the completion of the sale, the executive now owns 49,542 shares in the company, valued at $3,794,917.20. This represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Henry W. Kilmer sold 4,800 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $75.61, for a total value of $362,928.00. Following the sale, the vice president now owns 33,800 shares of the company’s stock, valued at approximately $2,555,618. This represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,440 shares of company stock worth $1,057,910. Company insiders own 11.40% of the company’s stock.

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.