Hassan Wahla Sells 10,000 Shares of Telenav Inc (NASDAQ:TNAV) Stock

Telenav Inc (NASDAQ:TNAV) insider Hassan Wahla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00. Following the transaction, the insider now directly owns 121,331 shares of the company’s stock, valued at $1,031,313.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hassan Wahla also recently made the following trade(s):

  • On Friday, June 21st, Hassan Wahla sold 110,000 shares of Telenav stock. The stock was sold at an average price of $8.00, for a total transaction of $880,000.00.
  • On Friday, June 7th, Hassan Wahla sold 49,999 shares of Telenav stock. The shares were sold at an average price of $7.40, for a total transaction of $369,992.60.

Shares of TNAV stock opened at $8.79 on Friday. Telenav Inc has a 12-month low of $3.35 and a 12-month high of $8.84. The company has a market cap of $395.72 million, a P/E ratio of -4.51 and a beta of 0.73. The company’s 50-day moving average price is $7.80.

Telenav (NASDAQ:TNAV) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. Telenav had a negative net margin of 26.03% and a negative return on equity of 57.09%. The firm had revenue of $53.07 million during the quarter, compared to the consensus estimate of $51.02 million. Equities research analysts expect that Telenav Inc will post -0.63 EPS for the current year.

A number of hedge funds have recently made changes to their positions in TNAV. Optimum Investment Advisors bought a new position in shares of Telenav in the first quarter worth about $30,000. BNP Paribas Arbitrage SA raised its stake in shares of Telenav by 1,645.3% in the first quarter. BNP Paribas Arbitrage SA now owns 6,545 shares of the technology company’s stock worth $40,000 after acquiring an additional 6,170 shares during the last quarter. Barclays PLC raised its stake in shares of Telenav by 150.3% in the fourth quarter. Barclays PLC now owns 29,297 shares of the technology company’s stock worth $119,000 after acquiring an additional 17,592 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Telenav in the first quarter worth about $155,000. Finally, B. Riley Wealth Management Inc. bought a new position in shares of Telenav in the first quarter worth about $160,000. 49.30% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on TNAV shares. Zacks Investment Research downgraded shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. Northland Securities set a $50.00 price target on shares of Polarityte and gave the company a “buy” rating in a report on Friday, May 10th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, BidaskClub downgraded shares of Zebra Technologies from a “hold” rating to a “sell” rating in a report on Friday, May 24th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $8.38.

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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Insider Buying and Selling by Quarter for Telenav (NASDAQ:TNAV)

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