This Insider Has Just Sold Shares In Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

By
Simply Wall St
Published
November 11, 2020
NasdaqGS:CCOI

Investors may wish to note that the Independent Director of Cogent Communications Holdings, Inc., Sheryl Kennedy, recently netted US$70k from selling stock, receiving an average price of US$58.55. It might not be a huge sale, but it did reduce their holding size 20%, hardly encouraging.

View our latest analysis for Cogent Communications Holdings

Cogent Communications Holdings Insider Transactions Over The Last Year

In the last twelve months, the biggest single sale by an insider was when the Independent Director, David Bath, sold US$475k worth of shares at a price of US$86.45 per share. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. The good news is that this large sale was at well above current price of US$58.88. So it is hard to draw any strong conclusion from it.

In the last year Cogent Communications Holdings insiders didn't buy any company stock. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

insider-trading-volume
NasdaqGS:CCOI Insider Trading Volume November 11th 2020

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Insider Ownership of Cogent Communications Holdings

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. Cogent Communications Holdings insiders own about US$300m worth of shares (which is 11% of the company). This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.

So What Does This Data Suggest About Cogent Communications Holdings Insiders?

Insiders haven't bought Cogent Communications Holdings stock in the last three months, but there was some selling. Looking to the last twelve months, our data doesn't show any insider buying. The company boasts high insider ownership, but we're a little hesitant, given the history of share sales. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Cogent Communications Holdings. At Simply Wall St, we've found that Cogent Communications Holdings has 5 warning signs (2 don't sit too well with us!) that deserve your attention before going any further with your analysis.

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

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This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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