Ameriprise Financial Inc. lifted its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 21.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 269,152 shares of the technology company’s stock after buying an additional 46,968 shares during the quarter. Ameriprise Financial Inc. owned about 0.60% of Cogent Communications Holdings worth $10,793,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Cogent Communications Holdings by 0.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 7,186 shares of the technology company’s stock worth $288,000 after buying an additional 38 shares during the period. Aperio Group LLC raised its stake in shares of Cogent Communications Holdings by 1.1% in the second quarter. Aperio Group LLC now owns 9,168 shares of the technology company’s stock worth $368,000 after buying an additional 99 shares during the period. Arizona State Retirement System raised its stake in shares of Cogent Communications Holdings by 0.5% in the second quarter. Arizona State Retirement System now owns 21,400 shares of the technology company’s stock worth $858,000 after buying an additional 100 shares during the period. Texas Permanent School Fund raised its stake in shares of Cogent Communications Holdings by 0.9% in the second quarter. Texas Permanent School Fund now owns 29,897 shares of the technology company’s stock worth $1,199,000 after buying an additional 253 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of Cogent Communications Holdings by 0.5% in the first quarter. Prudential Financial Inc. now owns 70,419 shares of the technology company’s stock worth $3,032,000 after buying an additional 330 shares during the period. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cogent Communications Holdings, Inc. (CCOI) opened at 49.80 on Thursday. The company has a market cap of $2.23 billion, a P/E ratio of 142.29 and a beta of 0.66. The company’s 50-day moving average price is $47.44 and its 200 day moving average price is $43.27. Cogent Communications Holdings, Inc. has a 52 week low of $34.44 and a 52 week high of $51.85.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. The firm had revenue of $119.80 million for the quarter, compared to analyst estimates of $120.23 million. During the same period in the previous year, the company earned $0.09 EPS. Cogent Communications Holdings’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that Cogent Communications Holdings, Inc. will post $0.47 earnings per share for the current fiscal year.

Several research analysts have recently commented on CCOI shares. BidaskClub downgraded Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Royal Bank Of Canada raised their price objective on Cogent Communications Holdings from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. Wells Fargo & Company downgraded Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $46.00 to $48.00 in a research note on Monday. Zacks Investment Research downgraded Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Deutsche Bank AG raised their price objective on Cogent Communications Holdings from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Cogent Communications Holdings currently has an average rating of “Hold” and an average price target of $44.23.

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In other Cogent Communications Holdings news, VP Timothy G. Oneill sold 2,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $48.75, for a total transaction of $97,500.00. Following the completion of the transaction, the vice president now owns 39,052 shares of the company’s stock, valued at $1,903,785. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Timothy G. Oneill sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $41.95, for a total value of $41,950.00. Following the transaction, the vice president now directly owns 42,052 shares of the company’s stock, valued at approximately $1,764,081.40. The disclosure for this sale can be found here. Insiders have sold 31,466 shares of company stock valued at $1,422,354 in the last three months. Insiders own 9.48% of the company’s stock.

Cogent Communications Holdings Company Profile

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

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

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