Ameriprise Financial Inc. Buys Shares of 25,484 Telenav, Inc. (TNAV)
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.
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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, 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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