Navan (NASDAQ:NAVN) President Sells $1,033,613.80 in Stock

Navan, Inc. (NASDAQ:NAVN) President Michael Eric Sindicich sold 51,169 shares of Navan stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $20.20, for a total transaction of $1,033,613.80. Following the completion of the transaction, the president owned 549,251 shares of the company’s stock, valued at $11,094,870.20. This represents a 8.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Eric Sindicich also recently made the following trade(s):

• On Friday, March 20th, Michael Eric Sindicich sold 2,206 shares of Navan stock. The stock was sold at an average price of $8.62, for a total transaction of $19,015.72.

Navan Trading Down 3.1%

NAVN stock opened at $22.16 on Thursday. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.10. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $23.53. The business’s 50 day moving average is $16.23. The firm has a market capitalization of $5.56 billion and a PE ratio of -10.60.

Navan (NASDAQ:NAVN) last released its quarterly earnings data on Wednesday, March 25th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.26. The company had revenue of $177.92 million for the quarter. The business’s revenue was up 34.8% on a year-over-year basis. On average, equities research analysts predict that Navan, Inc. will post -0.33 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on NAVN shares. Oppenheimer raised their price objective on shares of Navan from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Citigroup cut their price objective on shares of Navan from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Weiss Ratings upgraded shares of Navan from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Bank of America assumed coverage on shares of Navan in a report on Tuesday, April 7th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, Morgan Stanley increased their price target on shares of Navan from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Navan has a consensus rating of “Moderate Buy” and an average price target of $22.79.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Lightspeed Management Company L.L.C. purchased a new stake in shares of Navan during the 4th quarter worth $852,658,000. a16z Capital Management L.L.C. purchased a new stake in shares of Navan during the 4th quarter worth $464,497,000. Greenoaks Capital Partners LLC purchased a new stake in shares of Navan during the 4th quarter worth $274,088,000. Cosmic Management LLC purchased a new stake in shares of Navan during the 4th quarter worth $121,930,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd purchased a new stake in shares of Navan during the 4th quarter worth $100,332,000.

About Navan

Navan (NASDAQ: NAVN) is a technology company that provides an integrated platform for corporate travel, expense management and business payments. The company combines online travel booking and itinerary management with expense reporting, corporate card services and payment processing to help organizations consolidate travel and T&E (travel and expense) workflows into a single system. Navan emphasizes a mobile-first user experience, automated reconciliation and policy controls to simplify administrative processes for finance and travel teams while improving the experience for travelers.

Navan’s offerings typically include online and mobile travel booking, real-time traveler support and duty-of-care features, automated expense capture and reporting, corporate card and virtual card issuance, and tools for payments and invoice management.