Goldman Sachs Group Inc. Trims Stock Position in Gogo Inc. $GOGO

Goldman Sachs Group Inc. trimmed its position in shares of Gogo Inc. (NASDAQ:GOGO) by 13.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 368,421 shares of the technology company’s stock after selling 54,887 shares during the quarter. Goldman Sachs Group Inc. owned 0.28% of Gogo worth $3,176,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. GAMMA Investing LLC increased its position in Gogo by 532.9% during the first quarter. GAMMA Investing LLC now owns 3,595 shares of the technology company’s stock worth $31,000 after purchasing an additional 3,027 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Gogo in the 4th quarter worth approximately $43,000. State of Wyoming purchased a new position in shares of Gogo in the fourth quarter worth approximately $57,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Gogo during the first quarter worth approximately $111,000. Finally, Brighton Jones LLC lifted its stake in Gogo by 69.6% in the fourth quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock valued at $138,000 after acquiring an additional 6,978 shares during the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Insider Buying and Selling at Gogo

In other news, CEO Christopher John Moore acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average cost of $12.11 per share, with a total value of $121,100.00. Following the acquisition, the chief executive officer owned 10,000 shares in the company, valued at approximately $121,100. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 25.78% of the stock is currently owned by insiders.

Gogo Stock Performance

NASDAQ:GOGO opened at $8.88 on Friday. The stock’s 50-day moving average is $12.75 and its 200-day moving average is $11.01. Gogo Inc. has a 1-year low of $6.17 and a 1-year high of $16.82. The stock has a market cap of $1.19 billion, a P/E ratio of 222.00 and a beta of 0.78. 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 posted its quarterly 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 firm had revenue of $226.04 million for the quarter, compared to analysts’ expectations of $220.12 million. Gogo had a return on equity of 88.04% and a net margin of 1.05%.The company’s revenue for the quarter was up 121.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 EPS. Gogo has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Gogo Inc. will post 0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GOGO has been the topic of several analyst reports. Morgan Stanley began coverage on shares of 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 target price on shares of Gogo and gave the company a “buy” rating in a research report on Wednesday, June 18th. Finally, Wall Street Zen cut Gogo from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.83.

About Gogo

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.