Thrivent Financial for Lutherans Sells 957,064 Shares of Cogent Communications Holdings, Inc. $CCOI

Thrivent Financial for Lutherans lessened its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 96.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,287 shares of the technology company’s stock after selling 957,064 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Cogent Communications were worth $1,315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CCOI. Atlantic Union Bankshares Corp bought a new stake in shares of Cogent Communications during the 2nd quarter valued at about $40,000. Farther Finance Advisors LLC boosted its holdings in shares of Cogent Communications by 80.5% in the third quarter. Farther Finance Advisors LLC now owns 1,336 shares of the technology company’s stock worth $51,000 after buying an additional 596 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of 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 buying an additional 1,198 shares during the last quarter. Headlands Technologies LLC bought a new stake in Cogent Communications during the second quarter valued at approximately $98,000. Finally, Covestor Ltd increased its holdings in Cogent Communications by 34.0% during the third quarter. Covestor Ltd now owns 2,705 shares of the technology company’s stock valued at $104,000 after buying an additional 686 shares during the last quarter. 92.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cogent Communications

In related news, Director Lewis H. Ferguson sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was 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 of the company’s stock, valued at approximately $391,890.78. The trade was a 17.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.40% of the company’s stock.

Cogent Communications Price Performance

NASDAQ:CCOI opened at $26.46 on Friday. The business’s 50-day simple moving average is $23.20 and its two-hundred day simple moving average is $30.89. Cogent Communications Holdings, Inc. has a 52 week low of $15.96 and a 52 week high of $84.06. The stock has a market cap of $1.30 billion, a PE ratio of -6.49 and a beta of 0.81. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 49.06.

Analyst Upgrades and Downgrades

CCOI has been the subject of a number of recent research reports. Citigroup cut 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. The Goldman Sachs Group lowered their target price on Cogent Communications from $40.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Zacks Research upgraded Cogent Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. JPMorgan Chase & Co. lowered their price objective on Cogent Communications from $37.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, November 13th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $27.00 price objective (down from $45.00) on shares of Cogent Communications in a research note on Friday, November 7th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average 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.