Navan (NASDAQ:NAVN) Trading Up 7% – Here’s Why

Navan, Inc. (NASDAQ:NAVN)’s share price was up 7% during mid-day trading on Tuesday . The company traded as high as $9.62 and last traded at $9.43. Approximately 361,834 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 1,676,040 shares. The stock had previously closed at $8.81.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NAVN. Citigroup assumed coverage on shares of Navan in a research report on Monday, November 24th. They issued a “buy” rating and a $26.00 price objective on the stock. Mizuho initiated coverage on Navan in a research note on Monday, November 24th. They issued an “outperform” rating and a $25.00 price target on the stock. BNP Paribas Exane set a $24.00 price target on Navan in a report on Monday, November 24th. Zacks Research upgraded Navan to a “hold” rating in a report on Friday, December 26th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $25.00 target price on shares of Navan in a research report on Tuesday, December 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Navan presently has an average rating of “Moderate Buy” and a consensus target price of $23.42.

Navan Price Performance

The stock’s 50 day simple moving average is $11.73. 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 company has a market cap of $2.25 billion and a P/E ratio of -4.62.

Insider Buying and Selling at Navan

In other Navan news, major shareholder Horowitz Lsv Fund I. Andreessen bought 46,337 shares of Navan stock in a transaction dated Wednesday, January 7th. The stock was acquired at an average cost of $18.11 per share, with a total value of $839,163.07. Following the completion of the acquisition, the insider owned 8,346,792 shares of the company’s stock, valued at approximately $151,160,403.12. This represents a 0.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Benjamin A. Horowitz acquired 46,337 shares of Navan stock in a transaction on Wednesday, January 7th. The shares were bought at an average cost of $18.11 per share, with a total value of $839,163.07. Following the completion of the purchase, the director owned 8,346,792 shares in the company, valued at $151,160,403.12. The trade was a 0.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 4,641,362 shares of company stock worth $74,083,876 and have sold 43,174 shares worth $463,174.

Institutional Trading of Navan

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Tennessee Department of Treasury purchased a new position in Navan during the fourth quarter worth about $369,000. Sender Co & Partners Inc. purchased a new position in shares of Navan during the 4th quarter worth approximately $187,000. New York State Common Retirement Fund acquired a new stake in shares of Navan in the 4th quarter valued at approximately $101,000. Cosmic Management LLC acquired a new stake in shares of Navan in the 4th quarter valued at approximately $121,930,000. Finally, Alkeon Capital Management LLC purchased a new stake in shares of Navan in the fourth quarter valued at approximately $45,891,000.

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.