ProShare Advisors LLC Increases Stock Holdings in Cogent Communications Holdings, Inc. $CCOI

ProShare Advisors LLC grew its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 30.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,113 shares of the technology company’s stock after acquiring an additional 40,970 shares during the period. ProShare Advisors LLC owned about 0.36% of Cogent Communications worth $6,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlantic Union Bankshares Corp purchased a new position in shares of Cogent Communications during the second quarter valued at about $40,000. Farther Finance Advisors LLC lifted its holdings in shares of Cogent Communications by 80.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,336 shares of the technology company’s stock worth $51,000 after acquiring an additional 596 shares during the last quarter. Versant Capital Management Inc lifted its stake in Cogent Communications by 333.7% in the third quarter. Versant Capital Management Inc now owns 1,557 shares of the technology company’s stock worth $60,000 after purchasing an additional 1,198 shares during the last quarter. Strs Ohio purchased a new position in Cogent Communications during the 1st quarter valued at $104,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Cogent Communications during the second quarter valued at $98,000. 92.45% of the stock is owned by hedge funds and other institutional investors.

Cogent Communications Stock Up 0.6%

Cogent Communications stock opened at $26.51 on Thursday. The company has a debt-to-equity ratio of 49.06, a quick ratio of 2.02 and a current ratio of 2.02. The company has a market capitalization of $1.30 billion, a PE ratio of -6.50 and a beta of 0.81. Cogent Communications Holdings, Inc. has a fifty-two week low of $15.96 and a fifty-two week high of $84.06. The firm has a 50 day moving average price of $22.92 and a 200 day moving average price of $31.07.

Insiders Place Their Bets

In other Cogent Communications news, Director Lewis H. Ferguson sold 4,000 shares of Cogent Communications stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total value of $81,360.00. Following the transaction, the director directly owned 19,267 shares in the company, valued at approximately $391,890.78. The trade was a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CCOI shares. Wells Fargo & Company restated an “equal weight” rating and issued a $27.00 price target (down previously from $45.00) on shares of Cogent Communications in a report on Friday, November 7th. Citigroup decreased their price objective on shares of Cogent Communications from $33.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Cogent Communications in a research note on Monday, December 22nd. Royal Bank Of Canada cut their price objective on shares of Cogent Communications from $40.00 to $23.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 13th. Finally, KeyCorp reiterated an “overweight” rating on shares of Cogent Communications in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.71.

Cogent Communications Company Profile

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.