Telenav, Inc. (NASDAQ:TNAV) has received an average rating of “Hold” from the seven research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $12.75.
A number of equities analysts have weighed in on TNAV shares. B. Riley reissued a “buy” rating and set a $11.00 price objective on shares of Telenav in a research note on Monday, May 8th. Sidoti raised Telenav from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Friday, May 19th. Northland Securities set a $15.00 price objective on Telenav and gave the stock a “buy” rating in a research note on Monday, July 10th. Zacks Investment Research raised Telenav from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, ValuEngine raised Telenav from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd.
In related news, VP Evan Berg sold 5,329 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $8.80, for a total value of $46,895.20. Following the sale, the vice president now owns 21,766 shares in the company, valued at approximately $191,540.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Strambi sold 5,000 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $8.31, for a total value of $41,550.00. Following the completion of the sale, the chief financial officer now owns 37,613 shares in the company, valued at approximately $312,564.03. The disclosure for this sale can be found here. Insiders sold 20,329 shares of company stock worth $175,445 in the last 90 days. Company insiders own 24.60% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Fortaleza Asset Management Inc. purchased a new stake in Telenav during the first quarter valued at about $106,000. Parkwood LLC increased its stake in shares of Telenav by 42.5% in the first quarter. Parkwood LLC now owns 14,680 shares of the technology company’s stock valued at $127,000 after buying an additional 4,375 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Telenav by 17.2% in the first quarter. Bank of New York Mellon Corp now owns 144,586 shares of the technology company’s stock valued at $1,251,000 after buying an additional 21,246 shares during the period. Essex Investment Management Co. LLC increased its stake in shares of Telenav by 7.5% in the first quarter. Essex Investment Management Co. LLC now owns 124,877 shares of the technology company’s stock valued at $1,080,000 after buying an additional 8,660 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Telenav by 6.3% in the first quarter. Russell Investments Group Ltd. now owns 133,985 shares of the technology company’s stock valued at $1,160,000 after buying an additional 7,942 shares during the period. Hedge funds and other institutional investors own 51.72% of the company’s stock.
Shares of Telenav (NASDAQ:TNAV) traded up 0.64% during trading on Monday, reaching $7.85. 52,588 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $8.30 and a 200 day moving average price of $8.45. Telenav has a 12 month low of $4.64 and a 12 month high of $10.15. The firm’s market cap is $343.31 million.
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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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