Swiss National Bank Acquires New Holdings in Navan, Inc. $NAVN

Swiss National Bank bought a new position in Navan, Inc. (NASDAQ:NAVN) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 92,300 shares of the company’s stock, valued at approximately $1,222,000.

A number of other large investors have also recently added to or reduced their stakes in NAVN. Royal Bank of Canada acquired a new position in Navan during the fourth quarter valued at approximately $35,000. California State Teachers Retirement System bought a new position in shares of Navan in the fourth quarter valued at approximately $39,000. Russell Investments Group Ltd. acquired a new stake in shares of Navan in the fourth quarter worth $51,000. New York State Common Retirement Fund bought a new stake in shares of Navan during the 4th quarter worth $101,000. Finally, Strs Ohio bought a new stake in shares of Navan during the 4th quarter worth $113,000.

Navan Trading Down 0.3%

Shares of Navan stock opened at $26.62 on Friday. The company’s fifty day simple moving average is $23.35 and its 200-day simple moving average is $16.71. The company has a market cap of $6.77 billion and a price-to-earnings ratio of -12.38. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10. Navan, Inc. has a 1 year low of $8.10 and a 1 year high of $28.22.

Navan (NASDAQ:NAVN) last announced its earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.20. The company had revenue of $220.23 million for the quarter. The business’s revenue for the quarter was up 39.8% on a year-over-year basis. As a group, sell-side analysts expect that Navan, Inc. will post -0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

NAVN has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on shares of Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Weiss Ratings upgraded shares of Navan from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, June 12th. BNP Paribas Exane raised their price target on Navan from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. BTIG Research lifted their price objective on Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Finally, Rosenblatt Securities boosted their price objective on Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.07.

Insider Buying and Selling

In other news, Director Arif Janmohamed sold 77,323 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $19.06, for a total transaction of $1,473,776.38. Following the completion of the transaction, the director owned 2,280,989 shares of the company’s stock, valued at approximately $43,475,650.34. This represents a 3.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Ilan Ezra Twig sold 24,726 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $21.06, for a total transaction of $520,729.56. Following the completion of the sale, the chief technology officer owned 805,860 shares of the company’s stock, valued at approximately $16,971,411.60. The trade was a 2.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 5,139,153 shares of company stock worth $102,867,420. 63.39% of the stock is currently owned by corporate insiders.

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.