New York State Common Retirement Fund boosted its stake in Telenav Inc (NASDAQ:TNAV) by 28.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 347,305 shares of the technology company’s stock after buying an additional 77,900 shares during the quarter. New York State Common Retirement Fund owned approximately 0.78% of Telenav worth $2,205,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Voya Investment Management LLC purchased a new stake in Telenav during the 2nd quarter worth $111,000. Susquehanna International Group LLP boosted its position in Telenav by 21.0% during the 2nd quarter. Susquehanna International Group LLP now owns 20,676 shares of the technology company’s stock worth $167,000 after purchasing an additional 3,595 shares during the period. Alliancebernstein L.P. purchased a new stake in Telenav during the 2nd quarter worth $179,000. Strs Ohio boosted its position in Telenav by 63.3% during the 2nd quarter. Strs Ohio now owns 24,500 shares of the technology company’s stock worth $198,000 after purchasing an additional 9,500 shares during the period. Finally, Nordea Investment Management AB boosted its position in Telenav by 68.9% during the 2nd quarter. Nordea Investment Management AB now owns 25,000 shares of the technology company’s stock worth $203,000 after purchasing an additional 10,200 shares during the period. 53.75% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Telenav Inc (NASDAQ:TNAV) opened at $5.60 on Monday. Telenav Inc has a 12 month low of $4.50 and a 12 month high of $10.15. The firm has a market cap of $248.15, a PE ratio of -4.55 and a beta of 0.87.
Telenav (NASDAQ:TNAV) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.37) EPS for the quarter, missing the 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 firm had revenue of $36.66 million during the quarter, compared to analyst estimates of $36.84 million. During the same quarter in the previous year, the business posted ($0.22) EPS. Telenav’s revenue for the quarter was down 13.2% compared to the same quarter last year. research analysts expect that Telenav Inc will post -1.4 earnings per share for the current fiscal year.
TNAV has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Telenav from a “sell” rating to a “hold” rating in a research report on Friday, January 5th. B. Riley reissued a “buy” rating and issued a $11.00 price objective on shares of Telenav in a research report on Monday, October 30th. Finally, Craig Hallum set a $9.00 price objective on shares of Telenav and gave the company a “buy” rating in a research report on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $11.25.
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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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