Navan (NASDAQ:NAVN) Trading Up 10.1% – Here’s What Happened

Navan, Inc. (NASDAQ:NAVN)’s share price shot up 10.1% on Monday . The company traded as high as $25.21 and last traded at $25.5350. Approximately 1,104,888 shares were traded during trading, a decline of 67% from the average session volume of 3,307,651 shares. The stock had previously closed at $23.20.

Wall Street Analyst Weigh In

A number of research firms recently commented on NAVN. Mizuho upped their price objective on Navan from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 11th. BNP Paribas Exane boosted their price objective on shares of Navan from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. The Goldman Sachs Group raised Navan from a “buy” rating to a “buy” rating in a report on Monday, June 8th. BMO Capital Markets increased their target price on shares of Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Finally, Rosenblatt Securities raised their price objective on shares of Navan from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.07.

Navan Stock Performance

The company has a market capitalization of $6.70 billion and a P/E ratio of -12.26. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31. The business’s fifty day simple moving average is $22.89 and its 200-day simple moving average is $16.51.

Navan (NASDAQ:NAVN) last issued its earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.20. The firm had revenue of $220.23 million during the quarter. The company’s revenue was up 39.8% compared to the same quarter last year. As a group, equities analysts anticipate that Navan, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Navan

In other Navan news, major shareholder Lightspeed Venture Partners Se sold 1,019,900 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $20.00, for a total transaction of $20,398,000.00. Following the sale, the insider directly owned 3,761,089 shares of the company’s stock, valued at $75,221,780. The trade was a 21.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Arif Janmohamed sold 1,019,900 shares of the business’s stock in a transaction that occurred on 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 transaction, the director directly owned 3,761,089 shares in the company, valued at approximately $75,221,780. This represents a 21.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,139,153 shares of company stock worth $102,867,420 in the last 90 days. 63.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Navan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its position in Navan by 23.2% during the 2nd quarter. Versant Capital Management Inc now owns 5,785 shares of the company’s stock valued at $132,000 after acquiring an additional 1,091 shares in the last quarter. Royal Bank of Canada bought a new stake in shares of Navan in the 4th quarter valued at about $35,000. California State Teachers Retirement System purchased a new position in shares of Navan in the 4th quarter worth approximately $39,000. Russell Investments Group Ltd. purchased a new stake in Navan during the fourth quarter valued at approximately $51,000. Finally, Sunbelt Securities Inc. purchased a new position in Navan in the first quarter worth $71,000.

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.