Gogo Inc. (NASDAQ:GOGO) is Tenzing Global Management LLC's 5th Largest Position

Tenzing Global Management LLC decreased its position in Gogo Inc. (NASDAQ:GOGO - Free Report) by 39.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,300,000 shares of the technology company's stock after selling 837,500 shares during the quarter. Gogo makes up 6.6% of Tenzing Global Management LLC's investment portfolio, making the stock its 5th largest position. Tenzing Global Management LLC owned 1.03% of Gogo worth $9,334,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Gogo by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,748,287 shares of the technology company's stock valued at $50,470,000 after acquiring an additional 44,340 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Gogo by 26.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 55,236 shares of the technology company's stock worth $485,000 after buying an additional 11,505 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Gogo in the second quarter worth about $109,000. Bank of New York Mellon Corp boosted its position in Gogo by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 675,845 shares of the technology company's stock valued at $6,502,000 after acquiring an additional 24,665 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Gogo by 67.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,285 shares of the technology company's stock valued at $166,000 after acquiring an additional 6,941 shares in the last quarter. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

Gogo Stock Up 3.7 %

Shares of NASDAQ GOGO traded up $0.27 on Friday, reaching $7.65. 454,835 shares of the company's stock traded hands, compared to its average volume of 1,015,398. The business's 50 day simple moving average is $7.35 and its two-hundred day simple moving average is $8.28. Gogo Inc. has a 12 month low of $6.17 and a 12 month high of $11.17. The company has a market cap of $962.22 million, a price-to-earnings ratio of 18.30 and a beta of 1.18. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GOGO shares. Roth Mkm reissued a "buy" rating and issued a $15.50 target price on shares of Gogo in a research report on Tuesday, September 17th. JPMorgan Chase & Co. decreased their price objective on Gogo from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley dropped their target price on shares of Gogo from $12.00 to $11.00 and set an "equal weight" rating on the stock in a report on Tuesday, September 3rd.

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.