According to Zacks, “TeleNav, Inc. is a provider of location based services, or LBS, including voice guided navigation, on mobile phones. Its core LBS solution is GPS Navigator which offers features such as real time traffic alerts, route planning and updated POIs. The Company’s other products include TeleNav Track and TeleNav Shotgun. Through the Company’s hosted service delivery model, it provides its solutions through the networks of wireless carriers in the United States, including Sprint and AT&T, as well as through certain carriers in other countries. The Company is also using its LBS platform to develop new offerings such as a feature rich, in-dash navigation solution for automotive consumers. Additionally, TeleNav is broadening the scope of the LBS platform by developing solutions that support a broad range of location enhanced applications such as location based mobile advertising, commerce and social networking. TeleNav, Inc. is headquartered in Sunnyvale, California. “
Separately, B. Riley reiterated a buy rating and issued a $10.00 target price on shares of Telenav in a research note on Saturday, August 6th.
Telenav (NASDAQ:TNAV) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.05. Telenav had a negative net margin of 19.26% and a negative return on equity of 22.62%. The business earned $47.80 million during the quarter, compared to analysts’ expectations of $41.69 million. During the same period in the previous year, the business posted ($0.12) EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year.
In other news, CEO H.P. Jin bought 7,500 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was purchased at an average cost of $5.35 per share, for a total transaction of $40,125.00. Following the purchase, the chief executive officer now directly owns 1,364,769 shares in the company, valued at approximately $7,301,514.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Loren E. Hillberg sold 6,242 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $5.93, for a total transaction of $37,015.06. Following the completion of the transaction, the general counsel now owns 2,132 shares of the company’s stock, valued at $12,642.76. The disclosure for this sale can be found here. 24.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of TNAV. Los Angeles Capital Management & Equity Research Inc. boosted its position in Telenav by 14.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 35,810 shares of the company’s stock worth $211,000 after buying an additional 4,600 shares in the last quarter. Teachers Advisors Inc. boosted its position in Telenav by 13.1% in the second quarter. Teachers Advisors Inc. now owns 47,031 shares of the company’s stock worth $240,000 after buying an additional 5,452 shares in the last quarter. AQR Capital Management LLC boosted its position in Telenav by 18.9% in the second quarter. AQR Capital Management LLC now owns 51,230 shares of the company’s stock worth $261,000 after buying an additional 8,153 shares in the last quarter. Nationwide Fund Advisors boosted its position in Telenav by 88.0% in the second quarter. Nationwide Fund Advisors now owns 56,007 shares of the company’s stock worth $286,000 after buying an additional 26,222 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in Telenav during the first quarter worth $349,000. Hedge funds and other institutional investors own 47.29% of the company’s stock.
Telenav Company Profile
TeleNav, Inc provides of location-based platform services consisting of map and navigation platform, and advertising delivery platform. The Company’s map and navigation platform delivers location based services to developers, auto manufacturers and end users. The Company’s uses map and navigation platform as the basis for delivering enhanced mobile applications.
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