William Blair Investment Management LLC Acquires 330,961 Shares of Gogo Inc. (NASDAQ:GOGO)

William Blair Investment Management LLC grew its holdings in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 15.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,424,378 shares of the technology company's stock after acquiring an additional 330,961 shares during the quarter. William Blair Investment Management LLC owned 1.93% of Gogo worth $19,613,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Gogo by 0.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,356 shares of the technology company's stock worth $1,496,000 after acquiring an additional 1,714 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Gogo by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company's stock worth $4,005,000 after acquiring an additional 3,181 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Gogo by 1.9% during 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. Brighton Jones LLC raised its stake in shares of Gogo by 69.6% during 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 raised its stake in shares of Gogo by 25.4% during 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. 69.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on GOGO. Roth Mkm decreased their price target on shares of Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. StockNews.com cut shares of Gogo from a "hold" rating to a "sell" rating in a report on Monday, March 17th.

Insider Activity at Gogo

In related news, Director Oakleigh Thorne purchased 30,173 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were acquired at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the completion of the acquisition, the director now directly owns 711,341 shares in the company, valued at approximately $4,673,510.37. The trade was a 4.43 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 26.00% of the stock is currently owned by company insiders.

Gogo Trading Down 3.9 %

Shares of Gogo stock traded down $0.30 on Friday, hitting $7.42. The stock had a trading volume of 2,390,565 shares, compared to its average volume of 1,093,685. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. Gogo Inc. has a one year low of $6.17 and a one year high of $11.00. The stock has a market cap of $933.28 million, a price-to-earnings ratio of 17.26 and a beta of 1.01. The stock's 50-day simple moving average is $7.75 and its two-hundred day simple moving average is $7.56.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. The firm had revenue of $137.80 million for the quarter, compared to analysts' expectations of $97.80 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The business's revenue was up 40.9% on a year-over-year basis. During the same quarter last year, the business earned $0.11 earnings per share. As a group, sell-side analysts predict that Gogo Inc. will post 0.41 EPS for the current 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.