ValuEngine Lowers Telenav (NASDAQ:TNAV) to Hold

ValuEngine lowered shares of Telenav (NASDAQ:TNAV) from a buy rating to a hold rating in a report published on Thursday, ValuEngine reports.

TNAV has been the topic of a number of other reports. B. Riley reiterated a buy rating on shares of Telenav in a report on Wednesday, July 31st. BidaskClub raised shares of Telenav from a buy rating to a strong-buy rating in a research note on Friday, May 24th. Zacks Investment Research raised shares of Telenav from a sell rating to a hold rating in a research note on Wednesday, June 26th. Finally, Northland Securities reissued a buy rating and issued a $11.00 price objective on shares of Telenav in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $8.38.

NASDAQ TNAV traded down $0.46 on Thursday, reaching $8.77. The company had a trading volume of 8,271 shares, compared to its average volume of 265,702. The stock has a market cap of $421.28 million, a PE ratio of -4.57 and a beta of 0.70. The stock’s 50 day moving average is $8.46. Telenav has a 12 month low of $3.35 and a 12 month high of $9.64.

Telenav (NASDAQ:TNAV) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The company had revenue of $53.07 million for the quarter, compared to the consensus estimate of $51.02 million. Telenav had a negative net margin of 26.03% and a negative return on equity of 57.09%. On average, equities research analysts anticipate that Telenav will post -0.63 earnings per share for the current year.

In other Telenav news, SVP Philipp Wolfgang Josef Kandal sold 10,000 shares of Telenav stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $9.35, for a total value of $93,500.00. Following the completion of the transaction, the senior vice president now directly owns 199,113 shares of the company’s stock, valued at approximately $1,861,706.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Salman Dhanani sold 100,000 shares of Telenav stock in a transaction on Monday, June 10th. The stock was sold at an average price of $7.18, for a total transaction of $718,000.00. Following the completion of the transaction, the insider now directly owns 481,683 shares of the company’s stock, valued at $3,458,483.94. The disclosure for this sale can be found here. Insiders sold a total of 332,180 shares of company stock valued at $2,552,775 over the last three months. Corporate insiders own 24.82% of the company’s stock.

Several large investors have recently modified their holdings of TNAV. BlackRock Inc. grew its stake in shares of Telenav by 3.2% in the 4th quarter. BlackRock Inc. now owns 1,742,870 shares of the technology company’s stock valued at $7,076,000 after buying an additional 54,720 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Telenav by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,187,880 shares of the technology company’s stock valued at $4,823,000 after buying an additional 20,195 shares during the period. Geode Capital Management LLC grew its stake in shares of Telenav by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 318,613 shares of the technology company’s stock valued at $1,293,000 after buying an additional 13,498 shares during the period. Barclays PLC grew its stake in shares of Telenav by 150.3% in the 4th quarter. Barclays PLC now owns 29,297 shares of the technology company’s stock valued at $119,000 after buying an additional 17,592 shares during the period. Finally, Virtu Financial LLC acquired a new position in Telenav during the 1st quarter valued at about $155,000. 49.40% of the stock is owned by institutional investors and hedge funds.

About Telenav

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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