Gogo Inc. (NASDAQ:GOGO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in Gogo Inc. (NASDAQ:GOGO) by 6.6% during the third quarter, Holdings Channel.com reports. The firm owned 282,470 shares of the technology company’s stock after selling 19,875 shares during the quarter. Principal Financial Group Inc.’s holdings in Gogo were worth $2,028,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its stake in shares of Gogo by 12.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 21,320 shares of the technology company’s stock worth $187,000 after purchasing an additional 2,390 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in Gogo by 7.2% during the 2nd quarter. Texas Permanent School Fund Corp now owns 57,452 shares of the technology company’s stock worth $553,000 after buying an additional 3,845 shares during the last quarter. nVerses Capital LLC purchased a new stake in Gogo during the 3rd quarter worth about $34,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of Gogo by 11.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 54,770 shares of the technology company’s stock valued at $481,000 after acquiring an additional 5,688 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in shares of Gogo by 4.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 134,206 shares of the technology company’s stock valued at $1,291,000 after acquiring an additional 5,869 shares during the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Trading Down 1.9 %

NASDAQ:GOGO opened at $8.12 on Friday. The company has a market capitalization of $1.02 billion, a PE ratio of 18.67 and a beta of 1.10. Gogo Inc. has a 52-week low of $6.17 and a 52-week high of $11.17. The stock’s 50 day moving average price is $7.14 and its 200 day moving average price is $8.44. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOGO. Morgan Stanley lowered their price target on Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their target price on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Roth Mkm reiterated a “buy” rating and set a $15.50 price target on shares of Gogo in a research note on Tuesday, September 17th.

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.