Telenav Inc (TNAV) Insider Hassan Wahla Buys 20,000 Shares of Stock

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Telenav Inc (NASDAQ:TNAV) insider Hassan Wahla bought 20,000 shares of the firm’s stock in a transaction dated Thursday, December 6th. The shares were acquired at an average price of $3.79 per share, for a total transaction of $75,800.00. Following the acquisition, the insider now directly owns 137,426 shares of the company’s stock, valued at approximately $520,844.54. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of TNAV traded down $0.26 during trading hours on Friday, hitting $3.51. 137,932 shares of the stock traded hands, compared to its average volume of 56,011. Telenav Inc has a 1-year low of $3.43 and a 1-year high of $6.60. The firm has a market capitalization of $170.63 million, a PE ratio of -1.80 and a beta of 0.80.

Telenav (NASDAQ:TNAV) last issued its quarterly earnings results on Thursday, November 8th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.14. Telenav had a negative return on equity of 115.32% and a negative net margin of 66.53%. The business had revenue of $52.17 million for the quarter, compared to analyst estimates of $51.74 million. As a group, equities analysts predict that Telenav Inc will post -0.68 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake 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 acquiring an additional 144,495 shares during the period. ARS Investment Partners LLC lifted its stake in shares of Telenav by 11.0% during the third quarter. ARS Investment Partners LLC now owns 201,846 shares of the technology company’s stock valued at $1,019,000 after acquiring an additional 19,951 shares during the period. Panagora Asset Management Inc. lifted its stake in shares of Telenav by 163.4% during the third quarter. Panagora Asset Management Inc. now owns 71,162 shares of the technology company’s stock valued at $359,000 after acquiring an additional 44,147 shares during the period. BlackRock Inc. lifted its stake in shares of Telenav by 1.3% during the third quarter. BlackRock Inc. now owns 1,688,150 shares of the technology company’s stock valued at $8,526,000 after acquiring an additional 22,342 shares during the period. Finally, Wasatch Advisors Inc. acquired a new position in shares of Telenav during the third quarter valued at $2,706,000. 51.70% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently commented on TNAV. BidaskClub upgraded Telenav from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Zacks Investment Research upgraded Telenav from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a report on Tuesday, August 14th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Telenav currently has a consensus rating of “Buy” and an average target price of $7.92.

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

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