Cogent Communications Holdings Inc (NASDAQ:CCOI) VP John B. Chang sold 500 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $90.00, for a total value of $45,000.00. Following the sale, the vice president now owns 26,000 shares of the company’s stock, valued at $2,340,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of CCOI opened at $90.11 on Friday. Cogent Communications Holdings Inc has a 12-month low of $53.24 and a 12-month high of $92.96. The business has a 50-day simple moving average of $80.67 and a two-hundred day simple moving average of $79.24. The stock has a market cap of $4.25 billion, a PE ratio of 109.89, a PEG ratio of 8.40 and a beta of 0.23.

Cogent Communications (NASDAQ:CCOI) last issued its earnings results on Thursday, May 7th. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). Cogent Communications had a negative return on equity of 20.95% and a net margin of 6.79%. The firm had revenue of $140.90 million during the quarter, compared to analyst estimates of $141.78 million. During the same period in the previous year, the company earned $0.20 EPS. Cogent Communications’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities analysts forecast that Cogent Communications Holdings Inc will post 0.99 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on the company. SunTrust Banks upgraded Cogent Communications from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Wednesday, July 1st. Moffett Nathanson upped their price objective on Cogent Communications from $56.00 to $64.00 in a research report on Friday, June 26th. Credit Suisse Group restated a “buy” rating and set a $99.00 price objective on shares of Cogent Communications in a research report on Tuesday, July 14th. Goldman Sachs Group downgraded Cogent Communications from a “buy” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research report on Friday, April 17th. Finally, Citigroup upgraded Cogent Communications from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $85.00 in a research report on Tuesday, June 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $81.38.

Hedge funds have recently modified their holdings of the company. OmniStar Financial Group Inc. acquired a new stake in shares of Cogent Communications in the first quarter valued at about $32,000. GQ Asset Management LLC acquired a new stake in shares of Cogent Communications in the first quarter valued at about $66,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Cogent Communications in the first quarter valued at about $91,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Cogent Communications in the first quarter valued at about $137,000. Finally, IndexIQ Advisors LLC acquired a new stake in shares of Cogent Communications in the first quarter valued at about $182,000. 85.75% of the stock is owned by institutional investors.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.

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