BlackRock Inc. grew its holdings in shares of Telenav Inc (NASDAQ:TNAV) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,688,150 shares of the technology company’s stock after acquiring an additional 22,342 shares during the period. BlackRock Inc. owned about 3.73% of Telenav worth $8,526,000 as of its most recent SEC filing.

Separately, Northern Trust Corp raised its stake in Telenav by 5.7% during the second quarter. Northern Trust Corp now owns 349,901 shares of the technology company’s stock worth $1,960,000 after buying an additional 18,858 shares during the last quarter. Hedge funds and other institutional investors own 51.68% of the company’s stock.

Shares of NASDAQ TNAV opened at $4.57 on Friday. Telenav Inc has a twelve month low of $3.35 and a twelve month high of $6.60. The firm has a market cap of $200.51 million, a P/E ratio of -2.34 and a beta of 0.79.

Telenav (NASDAQ:TNAV) last announced its earnings results on Thursday, November 8th. The technology company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.14. Telenav had a negative net margin of 66.53% and a negative return on equity of 115.32%. The business had revenue of $52.17 million during the quarter, compared to the consensus estimate of $51.74 million. On average, analysts expect that Telenav Inc will post -0.68 EPS for the current fiscal year.

Separately, Zacks Investment Research downgraded shares of Telenav from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 10th.

In other news, insider Hassan Wahla bought 20,000 shares of the stock in a transaction that occurred on Thursday, December 6th. The stock was acquired at an average price of $3.79 per share, with a total value of $75,800.00. Following the completion of the purchase, the insider now directly owns 137,426 shares of the company’s stock, valued at $520,844.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Philipp Wolfgang Josef Kandal bought 10,000 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were purchased at an average cost of $4.43 per share, with a total value of $44,300.00. Following the purchase, the senior vice president now directly owns 186,735 shares of the company’s stock, valued at $827,236.05. The disclosure for this purchase can be found here. Insiders have purchased 80,551 shares of company stock valued at $336,685 in the last three months. 24.82% of the stock is owned by insiders.

COPYRIGHT VIOLATION WARNING: “BlackRock Inc. Has $8.53 Million Stake in Telenav Inc (TNAV)” was published by Daily Political and is owned by of Daily Political. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international copyright & trademark laws. The original version of this piece can be read at https://www.dailypolitical.com/2019/02/03/blackrock-inc-has-8-53-million-stake-in-telenav-inc-tnav.html.

Telenav Company 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.

See Also: Options Trading

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.