Navan (NASDAQ:NAVN) CTO Ilan Ezra Twig Sells 24,726 Shares

Navan, Inc. (NASDAQ:NAVN) CTO Ilan Ezra Twig sold 24,726 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $21.06, for a total transaction of $520,729.56. Following the completion of the sale, the chief technology officer directly owned 805,860 shares of the company’s stock, valued at $16,971,411.60. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Navan Stock Down 1.8%

Shares of NAVN stock traded down $0.38 during trading hours on Tuesday, hitting $21.28. 4,326,537 shares of the company were exchanged, compared to its average volume of 3,054,333. The stock has a market capitalization of $5.41 billion and a price-to-earnings ratio of -9.90. Navan, Inc. has a one year low of $8.10 and a one year high of $24.50. The business’s 50-day simple moving average is $18.61 and its two-hundred day simple moving average is $14.78. 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 (NASDAQ:NAVN) last announced its quarterly earnings data on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.20. The firm had revenue of $220.23 million during the quarter. Navan’s revenue for the quarter was up 39.8% compared to the same quarter last year. Sell-side analysts predict that Navan, Inc. will post -0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Navan

Several institutional investors have recently modified their holdings of NAVN. Royal Bank of Canada acquired a new stake in shares of Navan in the 4th quarter worth about $35,000. California State Teachers Retirement System bought a new position in Navan in the 4th quarter worth about $39,000. Russell Investments Group Ltd. acquired a new stake in shares of Navan in the fourth quarter valued at approximately $51,000. Sunbelt Securities Inc. bought a new stake in shares of Navan during the first quarter valued at approximately $71,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Navan during the fourth quarter worth approximately $101,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NAVN shares. TD Cowen boosted their price target on Navan from $28.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Weiss Ratings raised shares of Navan from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, June 12th. Citigroup reaffirmed an “outperform” rating on shares of Navan in a research report on Thursday, June 11th. Rosenblatt Securities increased their price objective on shares of Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Finally, Mizuho raised their target price on shares of Navan from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.64.

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.