Insider Buying: Telenav Inc (TNAV) CEO Purchases $42,100.00 in Stock

Telenav Inc (NASDAQ:TNAV) CEO H.P. Jin bought 10,000 shares of the company’s stock in a transaction dated Wednesday, November 21st. The stock was bought at an average price of $4.21 per share, for a total transaction of $42,100.00. Following the transaction, the chief executive officer now owns 1,430,703 shares of the company’s stock, valued at $6,023,259.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of NASDAQ TNAV opened at $4.18 on Friday. Telenav Inc has a 52-week low of $4.08 and a 52-week high of $6.60. The stock has a market capitalization of $190.10 million, a PE ratio of -2.14 and a beta of 0.79.

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 Thomson Reuters’ consensus estimate of ($0.27) by $0.14. Telenav had a negative net margin of 66.53% and a negative return on equity of 115.32%. The business had revenue of $52.17 million for the quarter, compared to analyst estimates of $51.74 million. Sell-side analysts forecast that Telenav Inc will post -0.68 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Panagora Asset Management Inc. grew its position in shares of Telenav by 163.4% in the third quarter. Panagora Asset Management Inc. now owns 71,162 shares of the technology company’s stock valued at $359,000 after purchasing an additional 44,147 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Telenav in the second quarter valued at about $415,000. ARS Investment Partners LLC grew its position in shares of Telenav by 11.0% in the third quarter. ARS Investment Partners LLC now owns 201,846 shares of the technology company’s stock valued at $1,019,000 after purchasing an additional 19,951 shares during the period. Northern Trust Corp grew 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 purchasing an additional 18,858 shares during the period. Finally, Wasatch Advisors Inc. acquired a new stake in shares of Telenav in the third quarter valued at about $2,706,000. Institutional investors and hedge funds own 51.99% of the company’s stock.

Several brokerages have recently issued reports on TNAV. Zacks Investment Research upgraded shares of Telenav from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a research report on Saturday, November 17th. BidaskClub upgraded shares of Telenav from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Telenav has an average rating of “Buy” and a consensus target price of $7.92.

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Telenav Company Profile

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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