Insider Buying: Telenav Inc (TNAV) SVP Acquires 10,951 Shares of Stock
Telenav Inc (NASDAQ:TNAV) SVP Philipp Wolfgang Josef Kandal acquired 10,951 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was bought at an average price of $4.59 per share, for a total transaction of $50,265.09. Following the completion of the acquisition, the senior vice president now owns 166,735 shares of the company’s stock, valued at $765,313.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Telenav stock opened at $4.14 on Wednesday. The stock has a market capitalization of $200.05 million, a PE ratio of -2.12 and a beta of 0.79. Telenav Inc has a 52-week low of $4.08 and a 52-week high of $6.60.
Telenav (NASDAQ:TNAV) last announced its earnings results on Thursday, November 8th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.14. The company had revenue of $52.17 million during the quarter, compared to analysts’ expectations of $51.74 million. Telenav had a negative net margin of 66.53% and a negative return on equity of 115.32%. On average, sell-side analysts forecast that Telenav Inc will post -0.68 EPS for the current year.
Several institutional investors have recently made changes to their positions in TNAV. Dimensional Fund Advisors LP boosted its position in shares of Telenav by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,285,015 shares of the technology company’s stock valued at $6,939,000 after acquiring an additional 17,675 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Telenav in the second quarter valued at about $415,000. BlackRock Inc. boosted its position in shares of Telenav by 4.5% in the second quarter. BlackRock Inc. now owns 1,665,808 shares of the technology company’s stock valued at $9,328,000 after acquiring an additional 71,558 shares during the period. Divisar Capital Management LLC boosted its position in shares of Telenav by 2.0% in the second quarter. Divisar Capital Management LLC now owns 3,909,155 shares of the technology company’s stock valued at $21,891,000 after acquiring an additional 78,021 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Telenav by 5.7% in the second quarter. Northern Trust Corp now owns 349,901 shares of the technology company’s stock valued at $1,960,000 after acquiring an additional 18,858 shares during the period. 51.99% of the stock is owned by institutional investors.
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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