OxFORD Asset Management LLP cut its stake in Telenav, Inc. (NASDAQ:TNAV) by 25.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,614 shares of the technology company’s stock after selling 23,544 shares during the period. OxFORD Asset Management LLP owned approximately 0.16% of Telenav worth $556,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. American International Group Inc. grew its position in Telenav by 7.1% during the 1st quarter. American International Group Inc. now owns 20,066 shares of the technology company’s stock worth $174,000 after acquiring an additional 1,328 shares during the last quarter. Alliancebernstein L.P. bought a new stake in Telenav during the 2nd quarter worth $179,000. Metropolitan Life Insurance Co. NY grew its position in Telenav by 17.8% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 24,462 shares of the technology company’s stock worth $212,000 after acquiring an additional 3,691 shares during the last quarter. Strs Ohio grew its position in Telenav by 63.3% during the 2nd quarter. Strs Ohio now owns 24,500 shares of the technology company’s stock worth $198,000 after acquiring an additional 9,500 shares during the last quarter. Finally, ClariVest Asset Management LLC grew its position in Telenav by 68.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 25,000 shares of the technology company’s stock worth $202,000 after acquiring an additional 10,200 shares during the last quarter. 53.36% of the stock is owned by institutional investors.
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Telenav, Inc. (NASDAQ TNAV) opened at 6.30 on Friday. The company’s market capitalization is $276.86 million. The firm’s 50-day moving average price is $6.43 and its 200 day moving average price is $7.53. Telenav, Inc. has a one year low of $4.80 and a one year high of $10.15.
Telenav (NASDAQ:TNAV) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. The firm had revenue of $40.29 million for the quarter, compared to analyst estimates of $39.87 million. Telenav had a negative net margin of 27.87% and a negative return on equity of 32.05%. Telenav’s quarterly revenue was down 15.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.19) earnings per share. On average, equities research analysts expect that Telenav, Inc. will post ($1.08) earnings per share for the current fiscal year.
Several brokerages recently commented on TNAV. B. Riley reaffirmed a “buy” rating and set a $11.00 price target on shares of Telenav in a research note on Monday, July 31st. BidaskClub downgraded Telenav from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. ValuEngine downgraded Telenav from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Northland Securities set a $15.00 price objective on Telenav and gave the stock a “buy” rating in a research note on Monday, July 10th. Finally, Zacks Investment Research raised Telenav from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Telenav currently has an average rating of “Hold” and a consensus price target of $12.75.
TeleNav, Inc (Telenav) is a provider of location-based platform services. The Company’s services consist of its automotive and mobile navigation platform and its advertising delivery platform. The Company operates through three segments: automotive, advertising and mobile navigation. The automotive segment provides its map and navigation platform to auto manufacturers and original equipment manufacturers (OEMs) for distribution with their vehicles.
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