Insider Buying: Navan (NASDAQ:NAVN) Director Buys 229,917 Shares of Stock

Navan, Inc. (NASDAQ:NAVN) Director Benjamin Horowitz purchased 229,917 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The shares were purchased at an average cost of $15.57 per share, with a total value of $3,579,807.69. Following the completion of the purchase, the director owned 7,223,978 shares of the company’s stock, valued at $112,477,337.46. The trade was a 3.29% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Navan Trading Up 6.2%

NASDAQ:NAVN traded up $0.97 during trading hours on Monday, reaching $16.50. The stock had a trading volume of 1,531,872 shares, compared to its average volume of 2,007,389. Navan, Inc. has a 52 week low of $11.76 and a 52 week high of $22.75. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.14.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NAVN. Morgan Stanley restated an “overweight” rating and set a $20.00 target price on shares of Navan in a research report on Tuesday, December 16th. BNP Paribas set a $24.00 price objective on Navan in a research note on Monday, November 24th. The Goldman Sachs Group started coverage on Navan in a report on Monday, November 24th. They issued a “buy” rating and a $29.00 target price for the company. Loop Capital upgraded Navan to a “strong-buy” rating in a report on Monday, November 24th. Finally, Citigroup assumed coverage on shares of Navan in a research note on Monday, November 24th. They set a “buy” rating and a $26.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the stock. According to data from MarketBeat.com, Navan has a consensus rating of “Buy” and a consensus 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.