Principal Financial Group Inc. Sells 10,367 Shares of Gogo Inc. (NASDAQ:GOGO)

Principal Financial Group Inc. trimmed its position in shares of Gogo Inc. (NASDAQ:GOGOFree Report) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 322,947 shares of the technology company’s stock after selling 10,367 shares during the quarter. Principal Financial Group Inc. owned 0.25% of Gogo worth $3,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Teza Capital Management LLC bought a new position in shares of Gogo in the 3rd quarter worth approximately $158,000. Ballentine Partners LLC purchased a new position in shares of Gogo during the 4th quarter worth $140,000. Corton Capital Inc. grew its position in shares of Gogo by 62.5% during the 3rd quarter. Corton Capital Inc. now owns 17,400 shares of the technology company’s stock valued at $208,000 after acquiring an additional 6,695 shares during the period. Van ECK Associates Corp increased its stake in shares of Gogo by 31.4% in the 3rd quarter. Van ECK Associates Corp now owns 26,794 shares of the technology company’s stock worth $320,000 after purchasing an additional 6,410 shares in the last quarter. Finally, Hodges Capital Management Inc. bought a new position in Gogo in the 3rd quarter worth $358,000. 69.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GOGO. JPMorgan Chase & Co. assumed coverage on Gogo in a research report on Thursday, February 29th. They set a “neutral” rating and a $11.00 price objective on the stock. Morgan Stanley lowered their price target on shares of Gogo from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to, Gogo presently has a consensus rating of “Hold” and a consensus price target of $15.30.

View Our Latest Stock Report on GOGO

Insider Activity at Gogo

In other Gogo news, Director Charles C. Townsend bought 28,857 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $9.03 per share, for a total transaction of $260,578.71. Following the completion of the transaction, the director now directly owns 1,740,588 shares of the company’s stock, valued at $15,717,509.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 26.00% of the stock is currently owned by insiders.

Gogo Price Performance

NASDAQ:GOGO opened at $10.59 on Friday. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 9.05 and a beta of 1.04. The company has a debt-to-equity ratio of 9.39, a current ratio of 4.20 and a quick ratio of 3.33. The business has a 50 day simple moving average of $9.33 and a 200-day simple moving average of $9.41. Gogo Inc. has a 1 year low of $7.53 and a 1 year high of $17.94.

Gogo (NASDAQ:GOGOGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.06 by $0.10. Gogo had a net margin of 38.61% and a return on equity of 229.65%. The company had revenue of $104.32 million during the quarter, compared to analyst estimates of $96.62 million. Equities analysts forecast that Gogo Inc. will post 0.34 EPS for the current year.

Gogo Company Profile

(Free Report)

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.

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Institutional Ownership by Quarter for Gogo (NASDAQ:GOGO)

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