Goldman Sachs Group Inc. Has $3.18 Million Holdings in Gogo Inc. $GOGO

Key Points

• Goldman Sachs has reduced its holdings in Gogo Inc. by 13.0% in the first quarter, selling 54,887 shares, and now owns 368,421 shares valued at $3.18 million.
• Gogo's CEO, Christopher John Moore, purchased 10,000 shares of the company at $12.11 each, increasing their ownership, while insiders collectively hold 25.78% of the stock.
• Analysts have mixed views on Gogo's stock, with Morgan Stanley giving an "equal weight" rating and a price target of $15.00, while Roth Capital set a buy rating with a target of $16.50.

Goldman Sachs Group Inc. decreased its stake in Gogo Inc. (NASDAQ:GOGO - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 368,421 shares of the technology company's stock after selling 54,887 shares during the period. Goldman Sachs Group Inc. owned 0.28% of Gogo worth $3,176,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its stake in Gogo by 0.6% during the 4th quarter. Nuveen Asset Management LLC now owns 223,317 shares of the technology company's stock valued at $1,807,000 after acquiring an additional 1,373 shares in the last quarter. Ancora Advisors LLC bought a new stake in Gogo during the 1st quarter valued at $458,000. ProShare Advisors LLC raised its stake in Gogo by 44.7% during the 4th quarter. ProShare Advisors LLC now owns 19,410 shares of the technology company's stock valued at $157,000 after acquiring an additional 5,996 shares in the last quarter. Select Equity Group L.P. increased its position in shares of Gogo by 68.8% during the 1st quarter. Select Equity Group L.P. now owns 402,987 shares of the technology company's stock valued at $3,474,000 after purchasing an additional 164,257 shares during the period. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Gogo during the 1st quarter valued at $189,000. Institutional investors own 69.60% of the company's stock.

Insider Transactions at Gogo

In other news, CEO Christopher John Moore acquired 10,000 shares of Gogo stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $12.11 per share, with a total value of $121,100.00. Following the completion of the transaction, the chief executive officer owned 10,000 shares in the company, valued at approximately $121,100. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 25.78% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOGO. Morgan Stanley began coverage on Gogo in a research report on Thursday, August 14th. They set an "equal weight" rating and a $15.00 price target on the stock. Wall Street Zen cut Gogo from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Roth Capital set a $16.50 price target on Gogo and gave the company a "buy" rating in a research report on Wednesday, June 18th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Gogo currently has a consensus rating of "Moderate Buy" and an average price target of $14.83.

Gogo Stock Up 1.4%

GOGO traded up $0.13 during trading on Tuesday, reaching $9.14. 132,406 shares of the stock traded hands, compared to its average volume of 1,736,627. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 228.48 and a beta of 0.79. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $16.82. The company has a debt-to-equity ratio of 8.10, a current ratio of 1.71 and a quick ratio of 1.32. The stock's 50-day simple moving average is $12.62 and its two-hundred day simple moving average is $11.09.

Gogo (NASDAQ:GOGO - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. The firm had revenue of $226.04 million during the quarter, compared to analysts' expectations of $220.12 million. Gogo had a return on equity of 88.04% and a net margin of 1.05%.The business's revenue for the quarter was up 121.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 earnings per share. Gogo has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Gogo Inc. will post 0.41 EPS for the current year.

Gogo 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.