Navan (NASDAQ:NAVN) Reaches New 52-Week Low – Time to Sell?

Navan, Inc. (NASDAQ:NAVN) hit a new 52-week low on Tuesday . The company traded as low as $9.74 and last traded at $9.77, with a volume of 311822 shares trading hands. The stock had previously closed at $10.44.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NAVN shares. Weiss Ratings started coverage on shares of Navan in a research report on Tuesday, January 27th. They set a “sell (d)” rating for the company. Citigroup assumed coverage on shares of Navan in a research note on Monday, November 24th. They set a “buy” rating and a $26.00 price objective on the stock. BTIG Research started coverage on shares of Navan in a report on Monday, November 24th. They set a “buy” rating and a $26.00 price objective for the company. Mizuho began coverage on shares of Navan in a research note on Monday, November 24th. They issued an “outperform” rating and a $25.00 target price on the stock. Finally, The Goldman Sachs Group decreased their price target on Navan from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.36.

Navan Stock Down 4.5%

The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $14.26. The firm has a market cap of $2.48 billion and a PE ratio of -5.09.

Insider Activity at Navan

In other news, Director Benjamin A. Horowitz purchased 466,058 shares of Navan stock in a transaction dated Friday, January 2nd. The stock was bought at an average price of $16.27 per share, with a total value of $7,582,763.66. Following the completion of the acquisition, the director owned 7,789,538 shares in the company, valued at $126,735,783.26. The trade was a 6.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Horowitz Lsv Fund I. Andreessen acquired 466,058 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was purchased at an average cost of $16.27 per share, for a total transaction of $7,582,763.66. Following the acquisition, the insider owned 7,789,538 shares in the company, valued at approximately $126,735,783.26. This trade represents a 6.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 5,644,482 shares of company stock worth $86,979,947 in the last 90 days.

Institutional Inflows and Outflows

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