Navan (NASDAQ:NAVN) Reaches New 52-Week Low – What’s Next?

Shares of Navan, Inc. (NASDAQ:NAVN) hit a new 52-week low on Friday . The company traded as low as $11.56 and last traded at $11.70, with a volume of 1065995 shares changing hands. The stock had previously closed at $12.66.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 target price on shares of Navan in a research note on Friday, December 12th. Citigroup started coverage on Navan in a report on Monday, November 24th. They issued a “buy” rating and a $26.00 target price for the company. Loop Capital raised Navan to a “strong-buy” rating in a research note on Monday, November 24th. Weiss Ratings assumed coverage on shares of Navan in a research report on Tuesday. They set a “sell (d)” rating on the stock. Finally, Citizens Jmp restated a “market outperform” rating and issued a $25.00 price target on shares of Navan in a research report on Tuesday, December 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.42.

Navan Stock Down 8.4%

The company has a market cap of $2.88 billion and a P/E ratio of -5.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.49 and a current ratio of 4.49. The business’s 50-day moving average price is $15.38.

Insider Transactions at Navan

In other news, major shareholder Horowitz Lsv Fund I. Andreessen purchased 466,058 shares of the stock in a transaction on Friday, January 2nd. The shares were acquired at an average price of $16.27 per share, for a total transaction of $7,582,763.66. Following the completion of the transaction, the insider directly owned 7,789,538 shares of the company’s stock, valued at approximately $126,735,783.26. This trade represents a 6.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Benjamin A. Horowitz acquired 466,058 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was acquired at an average cost of $16.27 per share, with a total value of $7,582,763.66. Following the purchase, the director directly owned 7,789,538 shares in the company, valued at $126,735,783.26. This represents a 6.36% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 5,644,482 shares of company stock valued at $86,979,947.

Institutional Trading of Navan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NAVN. UBS Group AG bought a new position in Navan in the 4th quarter worth $9,125,000. Vanguard Group Inc. bought a new stake in shares of Navan in the 4th quarter worth approximately $56,848,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Navan during the fourth quarter valued at approximately $257,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Navan during the fourth quarter valued at $223,000. Finally, Teacher Retirement System of Texas bought a new position in Navan during the 4th quarter valued at about $8,540,000.

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.