Navan (NASDAQ:NAVN) Hits New 12-Month Low – Here’s Why

Shares of Navan, Inc. (NASDAQ:NAVN) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $9.43 and last traded at $9.44, with a volume of 205105 shares trading hands. The stock had previously closed at $10.11.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of Navan in a report on Tuesday, December 16th. Weiss Ratings started coverage on shares of Navan in a research note on Tuesday, January 27th. They issued a “sell (d)” rating on the stock. Oppenheimer started coverage on Navan in a report on Monday, November 24th. They set an “outperform” rating and a $25.00 price target on the stock. Zacks Research raised Navan to a “hold” rating in a report on Friday, December 26th. Finally, BNP Paribas Exane set a $24.00 target price on Navan in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Navan has an average rating of “Moderate Buy” and an average price target of $24.36.

Navan Price Performance

The firm’s fifty day simple moving average is $13.95. The stock has a market cap of $2.30 billion and a price-to-earnings ratio of -4.72. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.49 and a current ratio of 4.49.

Insider Activity at Navan

In other news, major shareholder Horowitz Lsv Fund I. Andreessen bought 466,058 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were acquired at an average cost of $16.27 per share, with a total value of $7,582,763.66. Following the completion of the transaction, the insider directly owned 7,789,538 shares in the company, valued at approximately $126,735,783.26. The trade was a 6.36% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Benjamin A. Horowitz purchased 466,058 shares of Navan stock in a transaction that occurred on Friday, January 2nd. The stock was purchased at an average price of $16.27 per share, with a total value of $7,582,763.66. Following the transaction, the director owned 7,789,538 shares in the company, valued at $126,735,783.26. This represents a 6.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 5,644,482 shares of company stock worth $86,979,947 in the last quarter.

Institutional Trading of Navan

Several hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada acquired a new position in Navan during the fourth quarter valued at $35,000. California State Teachers Retirement System purchased a new position in Navan during the 4th quarter valued at about $39,000. Russell Investments Group Ltd. acquired a new position in shares of Navan in the 4th quarter valued at about $51,000. New York State Common Retirement Fund acquired a new position in shares of Navan in the 4th quarter valued at about $101,000. Finally, Strs Ohio purchased a new stake in shares of Navan in the fourth quarter worth approximately $113,000.

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.