Geode Capital Management LLC raised its stake in shares of Boingo Wireless, Inc. (NASDAQ:WIFI) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 312,594 shares of the technology company’s stock after buying an additional 10,613 shares during the period. Geode Capital Management LLC’s holdings in Boingo Wireless were worth $4,060,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Boingo Wireless by 10.8% in the first quarter. Vanguard Group Inc. now owns 1,716,153 shares of the technology company’s stock valued at $22,292,000 after buying an additional 167,407 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Boingo Wireless by 23.1% in the first quarter. Russell Investments Group Ltd. now owns 755,061 shares of the technology company’s stock valued at $9,808,000 after buying an additional 141,865 shares during the last quarter. Spark Investment Management LLC increased its position in shares of Boingo Wireless by 107.1% in the first quarter. Spark Investment Management LLC now owns 242,500 shares of the technology company’s stock valued at $3,150,000 after buying an additional 125,400 shares during the last quarter. State Street Corp increased its position in shares of Boingo Wireless by 7.7% in the fourth quarter. State Street Corp now owns 574,615 shares of the technology company’s stock valued at $7,006,000 after buying an additional 40,912 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of Boingo Wireless by 16.5% in the first quarter. TIAA CREF Investment Management LLC now owns 257,143 shares of the technology company’s stock valued at $3,340,000 after buying an additional 36,344 shares during the last quarter. Institutional investors and hedge funds own 81.44% of the company’s stock.

Shares of Boingo Wireless, Inc. (NASDAQ WIFI) traded down 0.641% during midday trading on Thursday, reaching $19.375. The company’s stock had a trading volume of 27,544 shares. The firm’s market cap is $777.11 million. Boingo Wireless, Inc. has a one year low of $8.10 and a one year high of $19.71. The stock’s 50 day moving average price is $16.05 and its 200 day moving average price is $14.32.

Boingo Wireless (NASDAQ:WIFI) last issued its earnings results on Thursday, August 3rd. The technology company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.03. The firm had revenue of $49 million for the quarter, compared to analyst estimates of $46.23 million. Boingo Wireless had a negative return on equity of 25.82% and a negative net margin of 13.85%. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.19) EPS. Analysts predict that Boingo Wireless, Inc. will post ($0.64) earnings per share for the current year.

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Several equities analysts have recently commented on WIFI shares. Benchmark Co. initiated coverage on Boingo Wireless in a research report on Tuesday, April 25th. They issued a “buy” rating and a $18.00 price objective on the stock. Zacks Investment Research downgraded Boingo Wireless from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Craig Hallum boosted their target price on Boingo Wireless from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Credit Suisse Group boosted their target price on Boingo Wireless from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. Finally, BidaskClub downgraded Boingo Wireless from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $17.93.

In related news, CEO David Hagan sold 25,000 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $14.55, for a total transaction of $363,750.00. Following the completion of the transaction, the chief executive officer now owns 621,853 shares in the company, valued at $9,047,961.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael Finley sold 14,493 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $18.08, for a total transaction of $262,033.44. Following the transaction, the director now owns 60,498 shares of the company’s stock, valued at approximately $1,093,803.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 985,765 shares of company stock valued at $15,549,721. Insiders own 7.70% of the company’s stock.

About Boingo Wireless

Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor Distributed Antenna System (DAS) services. The Company operates as a service provider of wireless connectivity solutions across its managed and operated network and aggregated network for mobile devices such as laptops, smartphones, tablets and other wireless-enabled consumer devices.

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Institutional Ownership by Quarter for Boingo Wireless (NASDAQ:WIFI)

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