UBS Group AG reduced its stake in Telenav, Inc. (NASDAQ:TNAV) by 26.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 15,527 shares of the technology company’s stock after selling 5,450 shares during the period. UBS Group AG’s holdings in Telenav were worth $134,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 in the last quarter. Teachers Advisors LLC boosted its stake in Telenav by 37.9% in the fourth quarter. Teachers Advisors LLC now owns 74,290 shares of the technology company’s stock valued at $524,000 after buying an additional 20,419 shares in the last quarter. Mesirow Financial Investment Management Equity Management boosted its stake in Telenav by 62.6% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 48,750 shares of the technology company’s stock valued at $422,000 after buying an additional 18,765 shares in the last quarter. Finally, Strs Ohio boosted its stake in Telenav by 130.8% in the first quarter. Strs Ohio now owns 15,000 shares of the technology company’s stock valued at $129,000 after buying an additional 8,500 shares in the last quarter. 51.58% of the stock is currently owned by institutional investors and hedge funds.

Shares of Telenav, Inc. (TNAV) remained flat at $6.20 on Friday. 59,456 shares of the company were exchanged. Telenav, Inc. has a one year low of $4.80 and a one year high of $10.15. The stock has a 50 day moving average price of $7.77 and a 200 day moving average price of $8.34. The stock’s market cap is $272.46 million.

Telenav (NASDAQ:TNAV) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Telenav had a negative return on equity of 30.87% and a negative net margin of 27.87%. The firm had revenue of $40.29 million for the quarter, compared to the consensus estimate of $39.87 million. During the same quarter in the prior year, the company posted ($0.19) earnings per share. The firm’s revenue was down 15.6% on a year-over-year basis. On average, analysts forecast that Telenav, Inc. will post ($1.08) EPS for the current fiscal year.

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Several equities research analysts recently issued reports on TNAV shares. B. Riley reissued a “buy” rating and issued a $11.00 target price on shares of Telenav in a research report on Friday, April 28th. Zacks Investment Research cut shares of Telenav from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Sidoti raised shares of Telenav from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Friday, May 19th. ValuEngine raised shares of Telenav from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Northland Securities set a $15.00 target price on shares of Telenav and gave the stock a “buy” rating in a research report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Telenav currently has an average rating of “Hold” and a consensus target price of $12.00.

In other Telenav news, CFO Michael Strambi sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $8.31, for a total transaction of $41,550.00. Following the completion of the sale, the chief financial officer now owns 37,613 shares of the company’s stock, valued at $312,564.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.60% of the stock is owned by corporate insiders.

About Telenav

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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Institutional Ownership by Quarter for Telenav (NASDAQ:TNAV)

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