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

Principal Financial Group Inc. decreased its stake in Gogo Inc. (NASDAQ:GOGO) by 6.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 282,470 shares of the technology company’s stock after selling 19,875 shares during the quarter. Principal Financial Group Inc. owned 0.22% of Gogo worth $2,028,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOGO. nVerses Capital LLC acquired a new position in Gogo in the 3rd quarter worth $34,000. Brighton Jones LLC bought a new stake in shares of Gogo in the third quarter valued at about $72,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Gogo in the second quarter valued at about $107,000. AQR Capital Management LLC acquired a new position in shares of Gogo during the second quarter worth about $108,000. Finally, Point72 DIFC Ltd bought a new position in shares of Gogo during the second quarter worth about $117,000. Institutional investors own 69.60% of the company’s stock.

Gogo Stock Down 0.7 %

GOGO stock opened at $8.24 on Friday. 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 current ratio of 3.58 and a quick ratio of 2.81. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 19.16 and a beta of 1.18. The business’s fifty day moving average price is $7.77 and its two-hundred day moving average price is $7.93.

Analyst Ratings Changes

Separately, Roth Mkm reiterated a “buy” rating and issued a $15.50 price objective 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.