Ameriprise Financial Inc. bought a new stake in Telenav, Inc. (NASDAQ:TNAV) during the second quarter, according to its most recent filing with the SEC. The firm bought 25,484 shares of the technology company’s stock, valued at approximately $206,000. Ameriprise Financial Inc. owned about 0.06% of Telenav at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TNAV. Vanguard Group Inc. grew its position in Telenav by 15.0% in the 1st quarter. Vanguard Group Inc. now owns 1,200,607 shares of the technology company’s stock worth $10,385,000 after purchasing an additional 156,248 shares during the last quarter. Geode Capital Management LLC grew its position in Telenav by 22.1% in the 1st quarter. Geode Capital Management LLC now owns 255,625 shares of the technology company’s stock worth $2,211,000 after purchasing an additional 46,266 shares during the last quarter. Essex Investment Management Co. LLC grew its position in Telenav by 35.5% in the 2nd quarter. Essex Investment Management Co. LLC now owns 169,180 shares of the technology company’s stock worth $1,370,000 after purchasing an additional 44,303 shares during the last quarter. Bank of New York Mellon Corp grew its position in Telenav by 17.2% in the 1st quarter. Bank of New York Mellon Corp now owns 144,586 shares of the technology company’s stock worth $1,251,000 after purchasing an additional 21,246 shares during the last quarter. Finally, ARS Investment Partners LLC grew its position in Telenav by 20.6% in the 2nd quarter. ARS Investment Partners LLC now owns 140,141 shares of the technology company’s stock worth $1,135,000 after purchasing an additional 23,970 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Shares of Telenav, Inc. (NASDAQ:TNAV) opened at $4.90 on Friday. Telenav, Inc. has a 12-month low of $4.70 and a 12-month high of $10.15.

Telenav (NASDAQ:TNAV) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.06). The business had revenue of $36.66 million for the quarter, compared to the consensus estimate of $36.84 million. Telenav had a negative return on equity of 61.53% and a negative net margin of 43.91%. Telenav’s revenue was down 13.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.22) earnings per share. equities research analysts predict that Telenav, Inc. will post -1.4 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Daily Political and is the sole property of of Daily Political. If you are reading this news story on another site, it was copied illegally and reposted in violation of United States and international trademark and copyright laws. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/11/19/ameriprise-financial-inc-buys-shares-of-25484-telenav-inc-tnav.html.

Several analysts have issued reports on TNAV shares. B. Riley restated a “buy” rating and issued a $11.00 price target on shares of Telenav in a research report on Thursday, August 10th. Zacks Investment Research lowered shares of Telenav from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. BidaskClub upgraded 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 research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.00.

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)

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