Navan (NASDAQ:NAVN) Major Shareholder Sells $20,398,000.00 in Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 1,019,900 shares of Navan stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $20.00, for a total value of $20,398,000.00. Following the sale, the insider owned 3,761,089 shares of the company’s stock, valued at approximately $75,221,780. This represents a 21.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Lightspeed Venture Partners Se also recently made the following trade(s):

• On Monday, June 15th, Lightspeed Venture Partners Se sold 1,004,231 shares of Navan stock. The shares were sold at an average price of $20.37, for a total value of $20,456,185.47.

Navan Stock Up 0.9%

Shares of Navan stock traded up $0.17 during trading on Monday, hitting $20.10. 5,656,674 shares of the stock traded hands, compared to its average volume of 4,247,811. The stock has a market cap of $5.04 billion and a P/E ratio of -9.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $24.50. The company has a fifty day moving average price of $17.75 and a two-hundred day moving average price of $14.60.

Navan (NASDAQ:NAVN) last announced its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.20. The firm had revenue of $220.23 million for the quarter. Navan’s revenue for the quarter was up 39.8% compared to the same quarter last year. Equities research analysts predict that Navan, Inc. will post -0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada bought a new position in shares of Navan in the 4th quarter valued at approximately $35,000. California State Teachers Retirement System bought a new position in shares of Navan in the 4th quarter valued at approximately $39,000. Russell Investments Group Ltd. bought a new position in shares of Navan in the 4th quarter valued at approximately $51,000. Sunbelt Securities Inc. bought a new position in shares of Navan in the 1st quarter valued at approximately $71,000. Finally, Strs Ohio raised its stake in shares of Navan by 86.4% in the 1st quarter. Strs Ohio now owns 12,300 shares of the company’s stock valued at $163,000 after acquiring an additional 5,700 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NAVN. Needham & Company LLC lifted their price target on Navan from $25.00 to $30.00 and gave the company a “buy” rating in a report on Monday, June 8th. TD Cowen lifted their price target on Navan from $28.00 to $29.00 and gave the company a “buy” rating in a report on Thursday. Jefferies Financial Group lifted their price target on Navan from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday. Rosenblatt Securities lifted their price target on Navan from $20.00 to $24.00 and gave the company a “buy” rating in a report on Monday, June 8th. Finally, Citizens Jmp raised their price objective on Navan from $31.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.64.

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.