Navan (NASDAQ:NAVN) Shares Gap Down on Insider Selling

Navan, Inc. (NASDAQ:NAVN)’s stock price gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $24.25, but opened at $23.61. Navan shares last traded at $24.35, with a volume of 334,060 shares changing hands.

Specifically, major shareholder Lightspeed Venture Partners Se sold 10,569 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $24.65, for a total value of $260,525.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NAVN shares. Oppenheimer set a $30.00 price target on shares of Navan in a report on Thursday, June 11th. Mizuho lifted their price objective on shares of Navan from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. The Goldman Sachs Group upgraded shares of Navan from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. BTIG Research upped their target price on Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Finally, Jefferies Financial Group raised their target price on Navan from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Navan presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.64.

Navan Price Performance

The company has a market capitalization of $6.53 billion and a price-to-earnings ratio of -11.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.31 and a quick ratio of 4.31. The firm’s fifty day moving average price is $20.20 and its 200-day moving average price is $15.34.

Navan (NASDAQ:NAVN) last released 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 for the quarter. The business’s quarterly revenue was up 39.8% on a year-over-year basis. Sell-side analysts expect that Navan, Inc. will post -0.37 earnings per share for the current fiscal year.

Institutional Trading of Navan

Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc grew its holdings in shares of Navan by 23.2% during the second quarter. Versant Capital Management Inc now owns 5,785 shares of the company’s stock worth $132,000 after purchasing an additional 1,091 shares during the last quarter. Royal Bank of Canada bought a new position in Navan in the 4th quarter valued at approximately $35,000. California State Teachers Retirement System acquired a new stake in Navan during the 4th quarter worth approximately $39,000. Russell Investments Group Ltd. acquired a new stake in Navan during the 4th quarter worth approximately $51,000. Finally, Sunbelt Securities Inc. bought a new stake in Navan during the 1st quarter worth approximately $71,000.

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.