Northern Trust Corp Raises Holdings in Telenav Inc (TNAV)

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.

ILLEGAL ACTIVITY WARNING: “Northern Trust Corp Raises Holdings in Telenav Inc (TNAV)” was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another domain, it was illegally stolen and republished in violation of US and international copyright & trademark law. The original version of this story can be accessed at https://www.dispatchtribunal.com/2018/12/01/northern-trust-corp-raises-holdings-in-telenav-inc-tnav.html.

Telenav Profile

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.

Read More: Balance Sheet

Want to see what other hedge funds are holding TNAV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Telenav Inc (NASDAQ:TNAV).

Institutional Ownership by Quarter for Telenav (NASDAQ:TNAV)

Receive News & Ratings for Telenav Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telenav and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply