Gogo Inc. (NASDAQ:GOGO) Shares Sold by Deutsche Bank AG

Deutsche Bank AG lessened its stake in Gogo Inc. (NASDAQ:GOGO - Free Report) by 49.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 302,137 shares of the technology company's stock after selling 292,162 shares during the period. Deutsche Bank AG owned about 0.24% of Gogo worth $2,444,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings in Gogo by 8.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,032 shares of the technology company's stock valued at $502,000 after purchasing an additional 5,078 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Gogo by 1.9% in the fourth quarter. Principal Financial Group Inc. now owns 287,890 shares of the technology company's stock worth $2,329,000 after acquiring an additional 5,420 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Gogo by 18.3% in the fourth quarter. MetLife Investment Management LLC now owns 36,216 shares of the technology company's stock worth $293,000 after acquiring an additional 5,613 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Gogo by 69.6% in the fourth quarter. Brighton Jones LLC now owns 17,000 shares of the technology company's stock worth $138,000 after acquiring an additional 6,978 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Gogo by 25.4% in the fourth quarter. SG Americas Securities LLC now owns 35,333 shares of the technology company's stock worth $286,000 after acquiring an additional 7,156 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Gogo from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Roth Mkm dropped their price target on shares of Gogo from $15.50 to $13.00 and set a "buy" rating for the company in a research note on Monday, March 17th.

Insider Activity at Gogo

In other news, Director Oakleigh Thorne purchased 30,173 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were purchased at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the purchase, the director now directly owns 711,341 shares of the company's stock, valued at $4,673,510.37. This represents a 4.43% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 25.78% of the company's stock.

Gogo Stock Down 1.3%

Gogo stock opened at $12.12 on Thursday. The stock's fifty day moving average is $8.37 and its two-hundred day moving average is $8.01. The stock has a market cap of $1.60 billion, a PE ratio of 28.19 and a beta of 0.93. Gogo Inc. has a 1-year low of $6.17 and a 1-year high of $12.90. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81.

Gogo (NASDAQ:GOGO - Get Free Report) last posted its earnings results on Friday, May 9th. The technology company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.13. The firm had revenue of $230.31 million during the quarter, compared to analysts' expectations of $214.93 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The firm's revenue was up 120.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share. On average, sell-side analysts expect that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Gogo Company Profile

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.

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