Northern Trust Corp lifted its stake in shares of Telenav, Inc. (NASDAQ:TNAV) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 336,292 shares of the technology company’s stock after acquiring an additional 7,356 shares during the quarter. Northern Trust Corp owned approximately 0.77% of Telenav worth $2,724,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Nationwide Fund Advisors increased its position in shares of Telenav by 19.8% during the second quarter. Nationwide Fund Advisors now owns 46,300 shares of the technology company’s stock worth $375,000 after acquiring an additional 7,642 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of Telenav during the second quarter worth approximately $206,000. Alliancebernstein L.P. purchased a new position in shares of Telenav during the second quarter worth approximately $179,000. Wells Fargo & Company MN increased its position in shares of Telenav by 17.0% during the second quarter. Wells Fargo & Company MN now owns 25,063 shares of the technology company’s stock worth $202,000 after acquiring an additional 3,633 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Telenav by 2.8% during the second quarter. Prudential Financial Inc. now owns 54,135 shares of the technology company’s stock worth $438,000 after acquiring an additional 1,500 shares during the period. 51.77% of the stock is currently owned by institutional investors and hedge funds.
Telenav, Inc. (NASDAQ TNAV) opened at $5.15 on Monday. Telenav, Inc. has a one year low of $4.70 and a one year high of $10.15.
Telenav (NASDAQ:TNAV) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.06). Telenav had a negative net margin of 32.94% and a negative return on equity of 41.16%. The business had revenue of $36.66 million for the quarter, compared to the consensus estimate of $36.84 million. During the same quarter in the prior year, the business posted ($0.22) earnings per share. Telenav’s revenue for the quarter was down 13.2% on a year-over-year basis. sell-side analysts expect that Telenav, Inc. will post -1.4 earnings per share for the current year.
TNAV has been the topic of a number of research reports. Zacks Investment Research lowered shares of Telenav from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. B. Riley reaffirmed a “buy” rating and set a $11.00 target price on shares of Telenav in a research report on Monday, October 30th. BidaskClub raised shares of Telenav from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Finally, ValuEngine lowered shares of Telenav from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Three analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Telenav presently has an average rating of “Hold” and an average price target of $12.00.
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Telenav Company 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.
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