Salman Dhanani Sells 31,681 Shares of Telenav Inc (NASDAQ:TNAV) Stock

Telenav Inc (NASDAQ:TNAV) insider Salman Dhanani sold 31,681 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $7.50, for a total value of $237,607.50. Following the transaction, the insider now owns 406,885 shares of the company’s stock, valued at approximately $3,051,637.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Salman Dhanani also recently made the following trade(s):

  • On Monday, June 10th, Salman Dhanani sold 100,000 shares of Telenav stock. The stock was sold at an average price of $7.18, for a total value of $718,000.00.

Shares of Telenav stock traded down $0.21 during trading on Friday, hitting $7.33. The stock had a trading volume of 152,800 shares, compared to its average volume of 213,889. The firm has a market cap of $338.65 million, a price-to-earnings ratio of -3.76 and a beta of 0.72. Telenav Inc has a fifty-two week low of $3.35 and a fifty-two week high of $7.92.

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

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Telenav by 303.1% during the first quarter. JPMorgan Chase & Co. now owns 600,686 shares of the technology company’s stock valued at $3,646,000 after purchasing an additional 451,683 shares during the last quarter. Nokomis Capital L.L.C. lifted its holdings in shares of Telenav by 6.6% during the first quarter. Nokomis Capital L.L.C. now owns 4,794,205 shares of the technology company’s stock valued at $29,101,000 after purchasing an additional 298,455 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Telenav by 54.0% during the first quarter. Renaissance Technologies LLC now owns 595,669 shares of the technology company’s stock valued at $3,616,000 after purchasing an additional 208,869 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Telenav by 9.3% during the third quarter. Vanguard Group Inc. now owns 1,696,267 shares of the technology company’s stock valued at $8,566,000 after purchasing an additional 144,495 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Telenav by 40.4% during the first quarter. Geode Capital Management LLC now owns 447,281 shares of the technology company’s stock valued at $2,714,000 after purchasing an additional 128,668 shares during the last quarter. Institutional investors and hedge funds own 49.95% of the company’s stock.

TNAV has been the subject of a number of analyst reports. ValuEngine lowered Telenav from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 1st. BidaskClub upgraded Telenav from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 22nd. Northland Securities reiterated a “buy” rating and set a $11.00 price target on shares of Telenav in a research report on Friday, May 10th. Finally, Zacks Investment Research lowered Telenav from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $8.38.

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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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