Horowitz Fund Andreessen Buys 103,960 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Horowitz Fund Andreessen acquired 103,960 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average cost of $13.61 per share, for a total transaction of $1,414,895.60. Following the completion of the purchase, the insider directly owned 6,026,111 shares of the company’s stock, valued at $82,015,370.71. The trade was a 1.76% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Navan Stock Performance

NAVN stock traded up $1.34 during midday trading on Friday, reaching $15.11. 10,653,071 shares of the stock were exchanged, compared to its average volume of 1,501,196. Navan, Inc. has a 52 week low of $11.76 and a 52 week high of $22.75.

Navan (NASDAQ:NAVN) last released its quarterly earnings data on Monday, December 15th. The company reported ($4.58) earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NAVN shares. The Goldman Sachs Group assumed coverage on Navan in a report on Monday, November 24th. They issued a “buy” rating and a $29.00 target price on the stock. Needham & Company LLC reissued a “buy” rating on shares of Navan in a report on Monday. Jefferies Financial Group set a $20.00 target price on shares of Navan in a report on Tuesday. Morgan Stanley restated an “overweight” rating and set a $20.00 price target on shares of Navan in a research note on Tuesday. Finally, Rosenblatt Securities restated a “buy” rating and issued a $30.00 target price on shares of Navan in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $24.92.

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.