Essex Investment Management Co. LLC raised its position in Telenav, Inc. (NASDAQ:TNAV) by 44.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 244,268 shares of the technology company’s stock after acquiring an additional 75,088 shares during the quarter. Essex Investment Management Co. LLC owned approximately 0.56% of Telenav worth $1,551,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of TNAV. Equitec Proprietary Markets LLC raised its holdings in Telenav by 27.8% during the third quarter. Equitec Proprietary Markets LLC now owns 169,263 shares of the technology company’s stock worth $1,075,000 after purchasing an additional 36,852 shares in the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in Telenav during the second quarter worth approximately $410,000. Castleark Management LLC increased its holdings in shares of Telenav by 9.8% in the 2nd quarter. Castleark Management LLC now owns 553,705 shares of the technology company’s stock valued at $4,485,000 after acquiring an additional 49,222 shares during the period. Susquehanna International Group LLP increased its holdings in shares of Telenav by 21.0% in the 2nd quarter. Susquehanna International Group LLP now owns 20,676 shares of the technology company’s stock valued at $167,000 after acquiring an additional 3,595 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Telenav by 33.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 264,910 shares of the technology company’s stock valued at $2,146,000 after acquiring an additional 66,278 shares during the period. Institutional investors own 51.77% of the company’s stock.
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A number of brokerages have recently commented on TNAV. Zacks Investment Research cut shares of Telenav from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. B. Riley reaffirmed a “buy” rating and issued a $11.00 target price on shares of Telenav in a report on Monday, October 30th. BidaskClub raised shares of Telenav from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Finally, ValuEngine cut shares of Telenav from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Three research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. Telenav has a consensus rating of “Hold” and an average target price of $12.00.
Telenav, Inc. (NASDAQ:TNAV) traded down $0.05 during trading hours on Friday, reaching $4.90. 49,049 shares of the company were exchanged, compared to its average volume of 91,353. Telenav, Inc. has a 1 year low of $4.70 and a 1 year high of $10.15.
Telenav (NASDAQ:TNAV) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.06). The firm had revenue of $36.66 million during the quarter, compared to analysts’ expectations of $36.84 million. Telenav had a negative net margin of 32.94% and a negative return on equity of 41.16%. The business’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.22) earnings per share. equities analysts anticipate that Telenav, Inc. will post -1.4 earnings per share for the current year.
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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