Telenav Inc (NASDAQ:TNAV) – Stock analysts at B. Riley reduced their FY2017 earnings estimates for shares of Telenav in a research note issued on Wednesday. B. Riley analyst J. Nichols now expects that the technology company will earn ($0.94) per share for the year, down from their prior estimate of ($0.89). B. Riley has a “Buy” rating and a $11.00 price objective on the stock. B. Riley also issued estimates for Telenav’s Q4 2017 earnings at ($0.30) EPS.
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Telenav from a “hold” rating to a “sell” rating in a report on Tuesday. Sidoti lowered shares of Telenav from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a report on Friday, January 20th.
Shares of Telenav (NASDAQ:TNAV) remained flat at $8.40 during mid-day trading on Monday. The company had a trading volume of 11,398 shares. The stock’s market cap is $367.37 million. The firm’s 50 day moving average price is $8.64 and its 200-day moving average price is $7.66. Telenav has a 1-year low of $4.47 and a 1-year high of $10.15.
Several large investors have recently made changes to their positions in TNAV. Russell Investments Group Ltd. purchased a new stake in shares of Telenav during the fourth quarter valued at $901,000. Spark Investment Management LLC increased its stake in shares of Telenav by 67.4% in the third quarter. Spark Investment Management LLC now owns 29,300 shares of the technology company’s stock valued at $167,000 after buying an additional 11,800 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Telenav by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,292,912 shares of the technology company’s stock valued at $9,115,000 after buying an additional 25,948 shares during the period. Alambic Investment Management L.P. increased its stake in shares of Telenav by 4.6% in the third quarter. Alambic Investment Management L.P. now owns 97,046 shares of the technology company’s stock valued at $556,000 after buying an additional 4,300 shares during the period. Finally, State Street Corp increased its stake in shares of Telenav by 9.1% in the fourth quarter. State Street Corp now owns 438,196 shares of the technology company’s stock valued at $3,089,000 after buying an additional 36,420 shares during the period. 47.06% of the stock is owned by institutional investors.
In other news, VP Evan Berg sold 5,329 shares of Telenav stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $8.80, for a total transaction of $46,895.20. Following the completion of the transaction, the vice president now directly owns 21,766 shares in the company, valued at $191,540.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Strambi sold 10,000 shares of Telenav stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $8.70, for a total transaction of $87,000.00. Following the transaction, the chief financial officer now owns 41,578 shares of the company’s stock, valued at $361,728.60. The disclosure for this sale can be found here. 24.60% of the stock is currently owned by company insiders.
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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