TIAA CREF Investment Management LLC trimmed its holdings in Telenav, Inc. (NASDAQ:TNAV) by 3.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,360 shares of the technology company’s stock after selling 4,048 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.25% of Telenav worth $878,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TNAV. Vanguard Group Inc. boosted its holdings in Telenav by 15.0% in the first quarter. Vanguard Group Inc. now owns 1,200,607 shares of the technology company’s stock valued at $10,385,000 after purchasing an additional 156,248 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Telenav by 22.1% in the first quarter. Geode Capital Management LLC now owns 255,625 shares of the technology company’s stock valued at $2,211,000 after acquiring an additional 46,266 shares during the period. Essex Investment Management Co. LLC boosted its holdings in shares of Telenav by 35.5% in the second quarter. Essex Investment Management Co. LLC now owns 169,180 shares of the technology company’s stock valued at $1,370,000 after acquiring an additional 44,303 shares during the period. ARS Investment Partners LLC boosted its holdings in shares of Telenav by 20.6% in the second quarter. ARS Investment Partners LLC now owns 140,141 shares of the technology company’s stock valued at $1,135,000 after acquiring an additional 23,970 shares during the period. Finally, Alliancebernstein L.P. acquired a new stake in shares of Telenav in the second quarter valued at approximately $179,000. 52.72% of the stock is owned by hedge funds and other institutional investors.

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TNAV has been the subject of several analyst reports. B. Riley restated a “buy” rating and set a $11.00 price target on shares of Telenav in a research note on Monday, October 30th. BidaskClub upgraded Telenav from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Zacks Investment Research cut Telenav from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, ValuEngine cut Telenav from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Three investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $12.00.

Telenav, Inc. (NASDAQ:TNAV) opened at $5.00 on Friday. Telenav, Inc. has a 52-week low of $4.95 and a 52-week high of $10.15.

Telenav (NASDAQ:TNAV) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.06). The business had revenue of $36.66 million during the quarter, compared to analysts’ expectations of $36.84 million. Telenav had a negative return on equity of 39.14% and a negative net margin of 32.94%. The company’s revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.22) EPS. equities analysts anticipate that Telenav, Inc. will post -1.4 EPS for the current fiscal year.

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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