Navan (NASDAQ:NAVN) CEO Sells $6,781,500.00 in Stock

Navan, Inc. (NASDAQ:NAVN) CEO Ariel Cohen sold 225,000 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $30.14, for a total value of $6,781,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,086,242 shares of the company’s stock, valued at approximately $32,739,333.88. This trade represents a 17.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Navan Trading Up 2.0%

NASDAQ NAVN traded up $0.56 during mid-day trading on Monday, reaching $29.06. 3,495,879 shares of the stock were exchanged, compared to its average volume of 3,169,996. The stock has a market capitalization of $7.39 billion and a PE ratio of -13.52. 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, Inc. has a 1-year low of $8.10 and a 1-year high of $30.88. The business’s fifty day simple moving average is $26.47 and its 200 day simple moving average is $18.89.

Navan (NASDAQ:NAVN) last announced its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.20. The company had revenue of $220.23 million during the quarter. The company’s revenue for the quarter was up 39.8% on a year-over-year basis. On average, research analysts anticipate that Navan, Inc. will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Navan

Hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc boosted its holdings in 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 buying an additional 1,091 shares in the last quarter. Royal Bank of Canada bought a new position in shares of Navan in the fourth quarter valued at $35,000. California State Teachers Retirement System acquired a new stake in shares of Navan during the 4th quarter valued at $39,000. Orion Capital Management LLC bought a new stake in shares of Navan during the 2nd quarter worth $54,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Navan during the fourth quarter worth $51,000.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Oppenheimer lifted their price target on Navan from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday. Mizuho upped their price objective on Navan from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. TD Cowen lifted their target price on Navan from $29.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Jefferies Financial Group upped their price target on Navan from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. One 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.79.

Navan Company Profile

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.