Telenav (NASDAQ:TNAV) Downgraded by ValuEngine to “Sell”

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Telenav (NASDAQ:TNAV) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Tuesday, October 15th, ValuEngine reports.

TNAV has been the subject of a number of other research reports. Craig Hallum cut shares of Telenav from a “buy” rating to a “hold” rating and dropped their target price for the stock from $13.00 to $5.00 in a research report on Thursday, September 5th. BidaskClub cut shares of Telenav from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 5th. Northland Securities cut shares of Telenav from an “outperform” rating to a “market perform” rating in a research report on Friday, September 6th. Zacks Investment Research upgraded shares of Telenav from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Friday, August 16th. Finally, B. Riley dropped their target price on shares of Telenav from $10.50 to $7.50 and set a “buy” rating for the company in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.88.

TNAV stock traded up $0.31 during trading on Tuesday, reaching $4.85. The stock had a trading volume of 735,600 shares, compared to its average volume of 464,439. The firm has a fifty day moving average price of $4.74 and a 200 day moving average price of $7.28. The company has a market capitalization of $228.75 million, a P/E ratio of -7.46 and a beta of 0.37. Telenav has a 1-year low of $3.35 and a 1-year high of $11.67.

Telenav (NASDAQ:TNAV) last released its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). The business had revenue of $58.45 million for the quarter, compared to the consensus estimate of $53.27 million. Telenav had a negative return on equity of 31.39% and a negative net margin of 14.88%. On average, research analysts expect that Telenav will post -0.32 EPS for the current fiscal year.

In other Telenav news, insider Salman Dhanani sold 308,138 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $10.02, for a total value of $3,087,542.76. Following the completion of the sale, the insider now owns 127,195 shares in the company, valued at approximately $1,274,493.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H.P. Jin purchased 40,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $10.59 per share, with a total value of $423,600.00. Following the transaction, the chief executive officer now owns 2,143,927 shares in the company, valued at $22,704,186.93. The disclosure for this purchase can be found here. Insiders sold a total of 511,404 shares of company stock valued at $5,368,582 in the last 90 days. Corporate insiders own 21.32% of the company’s stock.

Several large investors have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in Telenav by 42.1% during the 2nd quarter. Royal Bank of Canada now owns 6,562 shares of the technology company’s stock worth $52,000 after acquiring an additional 1,945 shares during the last quarter. Rhumbline Advisers boosted its stake in Telenav by 6.0% during the 3rd quarter. Rhumbline Advisers now owns 44,338 shares of the technology company’s stock worth $212,000 after acquiring an additional 2,503 shares during the last quarter. Bank of Montreal Can boosted its stake in Telenav by 275.2% during the 2nd quarter. Bank of Montreal Can now owns 3,673 shares of the technology company’s stock worth $30,000 after acquiring an additional 2,694 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Telenav by 21.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 15,727 shares of the technology company’s stock worth $75,000 after acquiring an additional 2,725 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in Telenav by 26.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 15,460 shares of the technology company’s stock worth $124,000 after acquiring an additional 3,188 shares during the last quarter. Institutional investors own 49.36% of the company’s stock.

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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