Swiss National Bank Has $1.05 Million Stock Holdings in Gogo Inc. $GOGO

Swiss National Bank lowered its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,900 shares of the technology company’s stock after selling 2,200 shares during the period. Swiss National Bank owned approximately 0.09% of Gogo worth $1,051,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Gogo by 9.3% during the first quarter. Vanguard Group Inc. now owns 5,695,358 shares of the technology company’s stock worth $49,094,000 after purchasing an additional 485,145 shares during the period. Nantahala Capital Management LLC boosted its holdings in Gogo by 441.5% in the fourth quarter. Nantahala Capital Management LLC now owns 2,574,642 shares of the technology company’s stock worth $20,829,000 after acquiring an additional 2,099,145 shares in the last quarter. LB Partners LLC boosted its holdings in Gogo by 6.4% in the first quarter. LB Partners LLC now owns 2,363,979 shares of the technology company’s stock worth $20,283,000 after acquiring an additional 142,887 shares in the last quarter. Tenzing Global Management LLC boosted its holdings in Gogo by 59.6% in the fourth quarter. Tenzing Global Management LLC now owns 2,075,000 shares of the technology company’s stock worth $16,787,000 after acquiring an additional 775,000 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC bought a new position in Gogo in the fourth quarter worth approximately $14,147,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

Insider Buying and Selling at Gogo

In other Gogo news, CEO Christopher John Moore acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $12.11 per share, with a total value of $121,100.00. Following the completion of the purchase, the chief executive officer owned 10,000 shares of the company’s stock, valued at approximately $121,100. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Begler sold 107,136 shares of Gogo stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $15.00, for a total value of $1,607,040.00. Following the sale, the executive vice president directly owned 14,454 shares of the company’s stock, valued at $216,810. This represents a 88.11% decrease in their position. The disclosure for this sale can be found here. 25.78% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GOGO has been the topic of several recent research reports. Morgan Stanley initiated coverage on Gogo in a report on Thursday, August 14th. They issued an “equal weight” rating and a $15.00 price target on the stock. Roth Capital set a $16.50 price target on Gogo and gave the stock a “buy” rating in a report on Wednesday, June 18th. Finally, Wall Street Zen lowered Gogo from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Gogo currently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Gogo Stock Performance

Shares of Gogo stock opened at $11.12 on Tuesday. The business’s fifty day simple moving average is $14.46 and its 200 day simple moving average is $10.72. The firm has a market capitalization of $1.49 billion, a P/E ratio of 278.00 and a beta of 1.11. Gogo Inc. has a 12 month low of $6.17 and a 12 month high of $16.82. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 8.10.

Gogo (NASDAQ:GOGO) last released its earnings results on Thursday, August 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $226.04 million during the quarter, compared to the consensus estimate of $220.12 million. Gogo had a return on equity of 88.04% and a net margin of 1.05%.The business’s revenue for the quarter was up 121.4% on a year-over-year basis. During the same period last year, the business posted $0.01 earnings per share. Gogo has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Gogo Inc. will post 0.41 EPS for the current year.

Gogo Company Profile

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.