Principal Financial Group Inc. Sells 19,875 Shares of Gogo Inc. (NASDAQ:GOGO)

Principal Financial Group Inc. cut its stake in shares of Gogo Inc. (NASDAQ:GOGO) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GOGO. Select Equity Group L.P. acquired a new stake in shares of Gogo during the 2nd quarter valued at $2,764,000. LB Partners LLC boosted its stake in shares of Gogo by 12.4% during the third quarter. LB Partners LLC now owns 2,045,000 shares of the technology company’s stock valued at $14,683,000 after purchasing an additional 225,000 shares in the last quarter. Barclays PLC boosted its stake in shares of Gogo by 357.5% during the third quarter. Barclays PLC now owns 109,959 shares of the technology company’s stock valued at $789,000 after purchasing an additional 85,925 shares in the last quarter. State Street Corp grew its holdings in shares of Gogo by 2.1% during the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock worth $17,675,000 after purchasing an additional 51,681 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Gogo by 13.5% in the third quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock valued at $40,589,000 after buying an additional 673,315 shares during the period. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Gogo Stock Performance

NASDAQ:GOGO opened at $8.24 on Friday. The company has a market capitalization of $1.04 billion, a PE ratio of 19.16 and a beta of 1.18. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $11.17. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. The company has a 50 day simple moving average of $7.77 and a two-hundred day simple moving average of $7.93.

Wall Street Analyst Weigh In

Separately, Roth Mkm reissued a “buy” rating and set a $15.50 target price on shares of Gogo in a report 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.