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.
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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 stock opened at $15.42 on Tuesday. The firm has a market cap of $1.96 billion, a PE ratio of 7.34 and a beta of 1.25. The firm's fifty day moving average is $13.71 and its 200 day moving average is $15.63. Gogo Inc. has a one year low of $11.57 and a one year high of $23.69.
Gogo Company Profile
(Get Rating)
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
- Get a free copy of the StockNews.com research report on Gogo (GOGO)
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