Telenav Inc. (TNAV) CFO Michael Strambi Sells 7,200 Shares of Stock
Telenav Inc. (NASDAQ:TNAV) CFO Michael Strambi sold 7,200 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $6.12, for a total transaction of $44,064.00. Following the completion of the sale, the chief financial officer now directly owns 51,513 shares of the company’s stock, valued at $315,259.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Michael Strambi also recently made the following trade(s):
- On Wednesday, November 23rd, Michael Strambi sold 10,000 shares of Telenav stock. The stock was sold at an average price of $6.11, for a total transaction of $61,100.00.
- On Monday, September 12th, Michael Strambi sold 8,500 shares of Telenav stock. The stock was sold at an average price of $5.45, for a total transaction of $46,325.00.
Telenav Inc. (NASDAQ:TNAV) remained flat at $6.15 during trading on Thursday. 52,506 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $5.68 and a 200-day moving average of $5.37. The firm’s market capitalization is $265.30 million. Telenav Inc. has a one year low of $4.47 and a one year high of $7.17.
Telenav (NASDAQ:TNAV) last announced its quarterly earnings data on Tuesday, November 1st. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.17) by $0.05. Telenav had a negative net margin of 18.63% and a negative return on equity of 22.85%. The business had revenue of $42.23 million for the quarter, compared to analyst estimates of $42.05 million. During the same quarter in the previous year, the firm posted ($0.27) earnings per share. The business’s revenue was down 4.2% on a year-over-year basis. On average, equities research analysts anticipate that Telenav Inc. will post ($0.62) EPS for the current year.
A number of hedge funds have recently made changes to their positions in TNAV. BlackRock Investment Management LLC boosted its position in Telenav by 22.4% in the second quarter. BlackRock Investment Management LLC now owns 132,895 shares of the company’s stock valued at $678,000 after buying an additional 24,360 shares in the last quarter. Vanguard Group Inc. boosted its position in Telenav by 4.5% in the second quarter. Vanguard Group Inc. now owns 974,842 shares of the company’s stock valued at $4,972,000 after buying an additional 41,685 shares in the last quarter. Prudential Financial Inc. boosted its position in Telenav by 8.6% in the second quarter. Prudential Financial Inc. now owns 64,265 shares of the company’s stock valued at $328,000 after buying an additional 5,100 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 valued at $6,449,000 after buying an additional 12,199 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its position in Telenav by 88.0% in the second quarter. Nationwide Fund Advisors now owns 56,007 shares of the company’s stock valued at $286,000 after buying an additional 26,222 shares in the last quarter. Institutional investors and hedge funds own 46.42% of the company’s stock.
TNAV has been the subject of several research analyst reports. B. Riley reaffirmed a “buy” rating and set a $10.00 target price on shares of Telenav in a research note on Friday, October 28th. Zacks Investment Research raised shares of Telenav from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research note on Tuesday, October 4th. Finally, FBR & Co initiated coverage on shares of Telenav in a research note on Monday, October 17th. They set an “outperform” rating and a $15.00 target price for the company. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $10.50.
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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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