Horowitz Lsv Fund Andreessen Buys 334,112 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Horowitz Lsv Fund Andreessen bought 334,112 shares of the stock in a transaction dated Monday, December 22nd. The shares were purchased at an average price of $15.90 per share, for a total transaction of $5,312,380.80. Following the purchase, the insider owned 6,601,058 shares of the company’s stock, valued at $104,956,822.20. This trade represents a 5.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Navan Stock Up 6.2%

NAVN traded up $0.97 during trading on Monday, hitting $16.50. The stock had a trading volume of 1,531,872 shares, compared to its average volume of 2,007,389. Navan, Inc. has a one year low of $11.76 and a one year high of $22.75. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.49 and a current ratio of 4.49.

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

Analysts Set New Price Targets

NAVN has been the subject of a number of analyst reports. Loop Capital upgraded shares of Navan to a “strong-buy” rating in a research report on Monday, November 24th. BTIG Research started coverage on Navan in a report on Monday, November 24th. They set a “buy” rating and a $26.00 target price on the stock. Jefferies Financial Group set a $20.00 price target on Navan in a research report on Tuesday, December 16th. JMP Securities set a $25.00 price objective on shares of Navan in a research report on Monday, November 24th. Finally, 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 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $24.92.

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.