Essex Investment Management Co. LLC Acquires 75,088 Shares of Telenav, Inc. (NASDAQ:TNAV)

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 Profile

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.

Institutional Ownership by Quarter for Telenav (NASDAQ:TNAV)

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