Norges Bank Makes New Investment in Navan, Inc. $NAVN

Norges Bank bought a new position in shares of Navan, Inc. (NASDAQ:NAVN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,000,000 shares of the company’s stock, valued at approximately $34,160,000. Norges Bank owned about 0.80% of Navan at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Strs Ohio bought a new stake in Navan during the fourth quarter valued at about $113,000. FNY Investment Advisers LLC bought a new stake in Navan during the fourth quarter valued at about $115,000. Teachers Retirement System of The State of Kentucky bought a new stake in Navan during the fourth quarter valued at about $223,000. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Navan during the fourth quarter valued at about $256,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Navan during the fourth quarter valued at about $257,000.

Insider Activity at Navan

In related news, CTO Ilan Ezra Twig sold 49,210 shares of the stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $8.62, for a total value of $424,190.20. Following the completion of the sale, the chief technology officer owned 538,012 shares in the company, valued at approximately $4,637,663.44. This trade represents a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ariel M. Cohen sold 151,007 shares of the stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $8.62, for a total transaction of $1,301,680.34. Following the completion of the sale, the chief executive officer owned 1,003,918 shares of the company’s stock, valued at approximately $8,653,773.16. The trade was a 13.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 253,592 shares of company stock worth $2,778,500. Company insiders own 63.39% of the company’s stock.

Navan Stock Performance

NASDAQ NAVN opened at $21.44 on Tuesday. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average of $16.91. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $23.53. The company has a market capitalization of $5.38 billion and a PE ratio of -10.26.

Navan (NASDAQ:NAVN) last released its earnings results on Wednesday, March 25th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.26. The company had revenue of $177.92 million during the quarter. Navan’s revenue was up 34.8% on a year-over-year basis. Research analysts forecast that Navan, Inc. will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group upgraded shares of Navan from a “buy” rating to a “buy” rating in a report on Monday. Jefferies Financial Group decreased their price target on shares of Navan from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Bank of America assumed coverage on shares of Navan in a report on Tuesday, April 7th. They set a “buy” rating and a $17.00 price target for the company. Rosenblatt Securities upped their price target on shares of Navan from $20.00 to $24.00 and gave the company a “buy” rating in a report on Monday. Finally, Oppenheimer upped their price target on shares of Navan from $20.00 to $28.00 and gave the company an “outperform” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.64.

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.