Benjamin Horowitz Acquires 103,960 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) Director Benjamin Horowitz purchased 103,960 shares of the stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average cost of $13.61 per share, with a total value of $1,414,895.60. Following the purchase, the director owned 6,026,111 shares in the company, valued at $82,015,370.71. This represents a 1.76% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Navan Stock Performance

NAVN traded up $1.34 on Friday, hitting $15.11. The company had a trading volume of 10,653,071 shares, compared to its average volume of 1,501,196. Navan, Inc. has a 1-year low of $11.76 and a 1-year high of $22.75.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Citigroup initiated coverage on Navan in a research report on Monday, November 24th. They issued a “buy” rating and a $26.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating on shares of Navan in a research report on Monday. BTIG Research initiated coverage on shares of Navan in a report on Monday, November 24th. They set a “buy” rating and a $26.00 price objective on the stock. BNP Paribas Exane began coverage on shares of Navan in a report on Monday, November 24th. They issued an “outperform” rating and a $24.00 price objective on the stock. Finally, Mizuho initiated coverage on shares of Navan in a report on Monday, November 24th. They set an “outperform” rating and a $25.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $24.92.

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.