Zacks Investment Research upgraded shares of Telenav Inc. (NASDAQ:TNAV) from a hold rating to a buy rating in a research report released on Tuesday. The firm currently has $6.50 target price on the stock.

According to Zacks, “TeleNav, Inc. is a provider of location based services, or LBS, including voice guided navigation, on mobile phones. Its core LBS solution is GPS Navigator which offers features such as real time traffic alerts, route planning and updated POIs. The Company’s other products include TeleNav Track and TeleNav Shotgun. Through the Company’s hosted service delivery model, it provides its solutions through the networks of wireless carriers in the United States, including Sprint and AT&T, as well as through certain carriers in other countries. The Company is also using its LBS platform to develop new offerings such as a feature rich, in-dash navigation solution for automotive consumers. Additionally, TeleNav is broadening the scope of the LBS platform by developing solutions that support a broad range of location enhanced applications such as location based mobile advertising, commerce and social networking. TeleNav, Inc. is headquartered in Sunnyvale, California. “

Separately, B. Riley started coverage on shares of Telenav in a research report on Thursday, August 25th. They set a buy rating and a $15.00 price objective on the stock.

Telenav (NASDAQ:TNAV) traded up 0.17% on Tuesday, reaching $5.81. 2,032 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $5.61 and a 200 day moving average of $5.36. The stock’s market capitalization is $248.13 million. Telenav has a 12 month low of $4.47 and a 12 month high of $7.75.

Telenav (NASDAQ:TNAV) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business earned $47.80 million during the quarter, compared to analysts’ expectations of $41.69 million. Telenav had a negative net margin of 19.26% and a negative return on equity of 22.62%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted ($0.12) earnings per share. Equities analysts predict that Telenav will post ($0.58) earnings per share for the current fiscal year.

In other news, CEO H.P. Jin purchased 7,500 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were bought at an average price of $5.35 per share, with a total value of $40,125.00. Following the completion of the transaction, the chief executive officer now directly owns 1,364,769 shares in the company, valued at approximately $7,301,514.15. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael Strambi sold 8,500 shares of Telenav stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $5.45, for a total transaction of $46,325.00. Following the completion of the transaction, the chief financial officer now directly owns 35,305 shares in the company, valued at approximately $192,412.25. The disclosure for this sale can be found here. Corporate insiders own 27.85% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Telenav by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,264,546 shares of the company’s stock worth $6,449,000 after buying an additional 12,199 shares in the last quarter. Vanguard Group Inc. raised its position in Telenav by 4.5% in the second quarter. Vanguard Group Inc. now owns 974,842 shares of the company’s stock worth $4,972,000 after buying an additional 41,685 shares in the last quarter. BlackRock Fund Advisors raised its position in Telenav by 16.7% in the second quarter. BlackRock Fund Advisors now owns 842,790 shares of the company’s stock worth $4,298,000 after buying an additional 120,432 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Telenav by 6.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 406,565 shares of the company’s stock worth $2,073,000 after buying an additional 25,997 shares in the last quarter. Finally, Equitec Proprietary Markets LLC raised its position in Telenav by 4.7% in the second quarter. Equitec Proprietary Markets LLC now owns 358,651 shares of the company’s stock worth $1,829,000 after buying an additional 15,987 shares in the last quarter. 47.29% of the stock is currently owned by institutional investors.

About Telenav

TeleNav, Inc provides of location-based platform services consisting of map and navigation platform, and advertising delivery platform. The Company’s map and navigation platform delivers location based services to developers, auto manufacturers and end users. The Company’s uses map and navigation platform as the basis for delivering enhanced mobile applications.

5 Day Chart for NASDAQ:TNAV

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