ValuEngine Lowers Telenav (NASDAQ:TNAV) to Hold

ValuEngine downgraded shares of Telenav (NASDAQ:TNAV) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, ValuEngine reports.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Telenav from a sell rating to a hold rating in a research report on Wednesday, June 26th. Northland Securities reissued a buy rating and issued a $11.00 price target on shares of Telenav in a research report on Friday, May 10th. BidaskClub raised shares of Telenav from a buy rating to a strong-buy rating in a research report on Friday, May 24th. Finally, B. Riley reissued a buy rating on shares of Telenav in a research report on Wednesday. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Telenav currently has an average rating of Buy and an average price target of $8.38.

Shares of TNAV stock traded up $0.09 on Thursday, reaching $9.23. 252,082 shares of the stock were exchanged, compared to its average volume of 265,702. The company’s 50 day moving average price is $8.46. The stock has a market cap of $417.17 million, a P/E ratio of -4.73 and a beta of 0.70. Telenav has a twelve month low of $3.35 and a twelve month high of $9.64.

Telenav (NASDAQ:TNAV) last issued its earnings results on Thursday, May 9th. The technology company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. The firm had revenue of $53.07 million during the quarter, compared to the consensus estimate of $51.02 million. Telenav had a negative net margin of 26.03% and a negative return on equity of 57.09%. Sell-side analysts predict that Telenav will post -0.63 EPS for the current year.

In related news, insider Hassan Wahla sold 49,999 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $7.40, for a total value of $369,992.60. Following the completion of the sale, the insider now directly owns 181,164 shares of the company’s stock, valued at $1,340,613.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Philipp Wolfgang Josef Kandal sold 5,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $8.00, for a total transaction of $40,000.00. Following the completion of the sale, the senior vice president now directly owns 224,113 shares of the company’s stock, valued at $1,792,904. The disclosure for this sale can be found here. Over the last three months, insiders sold 332,180 shares of company stock valued at $2,552,775. 24.82% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Optimum Investment Advisors purchased a new stake in shares of Telenav in the first quarter valued at about $30,000. BNP Paribas Arbitrage SA raised its holdings in shares of Telenav by 1,645.3% in the first quarter. BNP Paribas Arbitrage SA now owns 6,545 shares of the technology company’s stock valued at $40,000 after buying an additional 6,170 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Telenav by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 318,613 shares of the technology company’s stock valued at $1,293,000 after buying an additional 13,498 shares during the last quarter. Barclays PLC raised its holdings in shares of Telenav by 150.3% in the fourth quarter. Barclays PLC now owns 29,297 shares of the technology company’s stock valued at $119,000 after buying an additional 17,592 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Telenav by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,187,880 shares of the technology company’s stock valued at $4,823,000 after buying an additional 20,195 shares during the last quarter. 49.30% of the stock is owned by institutional investors and hedge funds.

About Telenav

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.

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