Horowitz Lsv Fund Andreessen Purchases 99,502 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Horowitz Lsv Fund Andreessen bought 99,502 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The shares were purchased at an average price of $16.16 per share, for a total transaction of $1,607,952.32. Following the completion of the purchase, the insider directly owned 7,323,480 shares of the company’s stock, valued at approximately $118,347,436.80. This trade represents a 1.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Navan Stock Performance

NASDAQ NAVN traded up $0.97 on Monday, hitting $16.50. 1,531,872 shares of the stock were exchanged, compared to its average volume of 2,007,389. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.14. Navan, Inc. has a fifty-two week low of $11.76 and a fifty-two 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

Several brokerages have recently weighed in on NAVN. The Goldman Sachs Group began coverage on Navan in a research report on Monday, November 24th. They set a “buy” rating and a $29.00 target price on the stock. JMP Securities set a $25.00 price target on shares of Navan in a research note on Monday, November 24th. Rosenblatt Securities restated a “buy” rating and set a $30.00 price objective on shares of Navan in a research report on Friday, December 12th. BNP Paribas set a $24.00 target price on shares of Navan in a research report on Monday, November 24th. Finally, BTIG Research assumed coverage on shares of Navan in a research report on Monday, November 24th. They issued a “buy” rating and a $26.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price 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.