Navan (NASDAQ:NAVN) Director Arif Janmohamed Sells 77,323 Shares of Stock

Navan, Inc. (NASDAQ:NAVN) Director Arif Janmohamed sold 77,323 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $19.06, for a total transaction of $1,473,776.38. Following the transaction, the director owned 2,280,989 shares of the company’s stock, valued at $43,475,650.34. This represents a 3.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Arif Janmohamed also recently made the following trade(s):

• On Tuesday, June 16th, Arif Janmohamed sold 398,546 shares of Navan stock. The shares were sold at an average price of $19.13, for a total transaction of $7,624,184.98.
• On Monday, June 15th, Arif Janmohamed sold 1,004,231 shares of Navan stock. The shares were sold at an average price of $20.37, for a total transaction of $20,456,185.47.
• On Friday, June 12th, Arif Janmohamed sold 1,019,900 shares of Navan stock. The stock was sold at an average price of $20.00, for a total transaction of $20,398,000.00.

Navan Stock Performance

Navan stock traded up $0.92 during mid-day trading on Thursday, reaching $21.91. The company’s stock had a trading volume of 6,338,613 shares, compared to its average volume of 3,031,106. The firm’s fifty day moving average price is $18.06 and its two-hundred day moving average price is $14.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31. Navan, Inc. has a 12-month low of $8.10 and a 12-month high of $24.50. The company has a market capitalization of $5.49 billion and a P/E ratio of -10.19.

Navan (NASDAQ:NAVN) last posted its earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.20. The company had revenue of $220.23 million for the quarter. The company’s quarterly revenue was up 39.8% on a year-over-year basis. Sell-side analysts predict that Navan, Inc. will post -0.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NAVN. Bank of America increased their price objective on Navan from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. TD Cowen upped their price target on Navan from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Rosenblatt Securities increased their price target on shares of Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Jefferies Financial Group raised their price objective on shares of Navan from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Finally, Weiss Ratings raised shares of Navan from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Navan presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.64.

Hedge Funds Weigh In On Navan

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NAVN. Royal Bank of Canada bought a new position in Navan in the 4th quarter worth about $35,000. California State Teachers Retirement System purchased a new position in shares of Navan during the fourth quarter worth about $39,000. Russell Investments Group Ltd. purchased a new position in shares of Navan during the fourth quarter worth about $51,000. Sunbelt Securities Inc. bought a new position in shares of Navan in the first quarter worth approximately $71,000. Finally, Strs Ohio increased its position in shares of Navan by 86.4% in the first quarter. Strs Ohio now owns 12,300 shares of the company’s stock worth $163,000 after purchasing an additional 5,700 shares during the last quarter.

Navan Company Profile

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.