Principal Financial Group Inc. bought a new stake in Gogo Inc. (NASDAQ:GOGO – Get Rating) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 468,747 shares of the technology company's stock, valued at approximately $7,589,000. Principal Financial Group Inc. owned approximately 0.42% of Gogo as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GOGO. Envestnet Asset Management Inc. purchased a new position in shares of Gogo in the first quarter worth $308,000. Commonwealth Equity Services LLC raised its holdings in shares of Gogo by 3.2% in the first quarter. Commonwealth Equity Services LLC now owns 172,181 shares of the technology company's stock worth $3,281,000 after buying an additional 5,301 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Gogo in the first quarter worth $258,000. Advisor Group Holdings Inc. raised its holdings in shares of Gogo by 824.4% in the first quarter. Advisor Group Holdings Inc. now owns 33,102 shares of the technology company's stock worth $632,000 after buying an additional 29,521 shares during the last quarter. Finally, Aviance Capital Partners LLC purchased a new position in shares of Gogo in the first quarter worth $229,000. 88.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Cowen raised their price target on shares of Gogo to $26.00 in a report on Monday, August 15th. Morgan Stanley raised shares of Gogo from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $14.00 to $15.00 in a report on Tuesday, November 1st. Finally, StockNews.com raised shares of Gogo from a "sell" rating to a "hold" rating in a report on Friday.

Gogo Stock Performance

Gogo Company Profile

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Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. It operates through Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA) segments. The company design, build and operate air-to-ground networks, engineer and maintain in-flight systems of proprietary hardware and software, and deliver customizable connectivity and wireless entertainment services.

Further Reading

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