Norges Bank is Buying Cyrusone Inc. (NASDAQ:CONE) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Cyrusone Inc. (NASDAQ:CONE) reported that Norges Bank has picked up 4,266,521 of common stock as of 2017-06-26.

The acquisition brings the aggregate amount owned by Norges Bank to a total of 4,266,521 representing a 4.86% stake in the company.

For those not familiar with the company, CyrusOne Inc. is a real estate investment trust. The Company is an owner, operator and developer of enterprise-class, carrier-neutral, multi-tenant data center properties. The Company’s data centers are generally purpose-built facilities with redundant power and cooling. The CyrusOne National IX Platform (the National IX Platform) delivers interconnection across states and between metro-enabled sites within its footprint and beyond. The Company has data centers in the United States, London and Singapore. As of December 31, 2016, the Company provided mission-critical data center facilities for 932 customers in 35 data centers and two recovery centers in 11 distinct markets (nine cities in the United States, London and Singapore) with approximately 3,904,000 net rentable square feet (NRSF). The Company provides round the clock security guard monitoring with customizable security features. As of December 31, 2016, the Company had approximately 1,657,000 NRSF under development.

A glance at Cyrusone Inc. (NASDAQ:CONE)’s key stats reveals a current market capitalization of $5.22 Billion based on $87.73 Million shares outstanding and a price at last close of $58.75 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2014-06-13, Wojtaszek picked up 5,000 at a purchase price of $22.65. This brings their total holding to 490,965      as of the date of the filing.

On the sell side, the most recent transaction saw Wojtaszek unload 41,706 shares at a sale price of $57.59. This brings their total holding to 469,915.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Cyrusone Inc. (NASDAQ:CONE) as things move forward to see if its progress aligns with these transactions.

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