Northern Trust Corp raised its stake in shares of Telenav Inc (NASDAQ:TNAV) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 349,901 shares of the technology company’s stock after buying an additional 18,858 shares during the period. Northern Trust Corp’s holdings in Telenav were worth $1,960,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Telenav during the 2nd quarter valued at $415,000. BlackRock Inc. raised its holdings in shares of Telenav by 4.5% during the 2nd quarter. BlackRock Inc. now owns 1,665,808 shares of the technology company’s stock valued at $9,328,000 after purchasing an additional 71,558 shares in the last quarter. Finally, Divisar Capital Management LLC raised its holdings in shares of Telenav by 2.0% during the 2nd quarter. Divisar Capital Management LLC now owns 3,909,155 shares of the technology company’s stock valued at $21,891,000 after purchasing an additional 78,021 shares in the last quarter. 51.99% of the stock is owned by institutional investors.
Shares of TNAV opened at $4.18 on Friday. The firm has a market capitalization of $184.66 million, a P/E ratio of -2.14 and a beta of 0.79. Telenav Inc has a one year low of $3.95 and a one year high of $6.60.
Telenav (NASDAQ:TNAV) last announced its earnings results on Thursday, November 8th. The technology company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.14. The firm had revenue of $52.17 million for the quarter, compared to the consensus estimate of $51.74 million. Telenav had a negative net margin of 66.53% and a negative return on equity of 115.32%. On average, analysts expect that Telenav Inc will post -0.68 earnings per share for the current fiscal year.
Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Telenav from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a report on Saturday, November 17th. BidaskClub upgraded shares of Telenav from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Telenav currently has a consensus rating of “Buy” and a consensus price target of $7.92.
In other news, SVP Philipp Wolfgang Josef Kandal bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 27th. The shares were purchased at an average price of $4.19 per share, for a total transaction of $41,900.00. Following the acquisition, the senior vice president now directly owns 216,335 shares of the company’s stock, valued at approximately $906,443.65. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 60,551 shares of company stock worth $260,885 in the last quarter. Insiders own 24.82% of the company’s stock.
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Telenav, Inc, together with its subsidiaries provides connected car and location-based platform services in the United States and internationally. The company operates through three segments: Automotive, Advertising, and Mobile Navigation. It offers automotive navigation services, including on-board solutions, which consist of software, map, and points of interest data loaded in vehicles that provide voice-guided turn by turn navigation displayed on the vehicle screen; and brought-in navigation services.
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