Sheryl Lynn Kennedy, a member of the board of directors at Cogent Communications Holdings, Inc. (NASDAQ: CCOI), completed a sale of 3,300 shares of the company's common stock on March 5, 2026. The shares were disposed of at a per-share price of $22.9901, yielding a total transaction value of $75,867.
After the sale, Kennedy's direct ownership in Cogent stands at 10,100 shares.
Cogent's most recent quarterly disclosure for the fourth quarter of fiscal 2025 showed a mixed picture. The company reported adjusted earnings per share of -$0.64, which topped the consensus estimate of -$1.03 and represented a 37.86% EPS surprise versus expectations. Revenue for the quarter, however, was $240.5 million, falling short of the forecasted $243.71 million.
UBS characterized the firm as experiencing a slower growth profile, noting that total revenues declined 0.6% sequentially and 4.7% on a year-over-year basis. On an earnings measure, EBITDA increased to $52 million, or $77 million when including reimbursements from T-Mobile, amounts that reflect year-over-year gains of 24% and 15%, respectively.
Market analysts adjusted their outlooks following the results. TD Cowen reduced its price target to $40 from $52 while keeping a Buy rating, citing delays in selling data centers and limited progress on the company's Waves initiative as reasons for the change. KeyBanc lowered its price target to $25 from $30 and maintained an Overweight rating, attributing the cut to lower estimates after the quarter missed certain expectations. UBS also trimmed its target to $21 from $27 and kept a Neutral rating, pointing to a slower-than-expected ramp in the Waves business.
These developments - the director sale, the mixed quarterly metrics, and subsequent analyst adjustments - together present a nuanced picture of Cogent's current position as the company proceeds through operational and strategic transitions.
Summary
A Cogent director sold 3,300 shares for $75,867 on March 5, 2026, leaving her with 10,100 shares. Cogent's Q4 2025 results included an EPS beat and a revenue miss; UBS reported sequential and year-over-year revenue declines, while EBITDA rose. Multiple analysts lowered price targets and revised views based on execution and revenue concerns.