Michael Eric Sindicich Sells 51,169 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) President Michael Eric Sindicich sold 51,169 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $20.20, for a total transaction of $1,033,613.80. Following the transaction, the president owned 549,251 shares in the company, valued at approximately $11,094,870.20. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Eric Sindicich also recently made the following trade(s):

• On Friday, March 20th, Michael Eric Sindicich sold 2,206 shares of Navan stock. The shares were sold at an average price of $8.62, for a total transaction of $19,015.72.

Navan Stock Up 0.4%

NAVN opened at $22.87 on Wednesday. Navan, Inc. has a 52-week low of $8.10 and a 52-week high of $23.53. 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 firm has a market capitalization of $5.73 billion and a P/E ratio of -10.94. The firm’s 50-day moving average is $15.68.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NAVN shares. The Goldman Sachs Group lifted their price target on shares of Navan from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, March 27th. Morgan Stanley lifted their price target on shares of Navan from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Citigroup dropped their price target on shares of Navan from $26.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Bank of America started coverage on shares of Navan in a research note on Tuesday, April 7th. They issued a “buy” rating and a $17.00 price target on the stock. Finally, BMO Capital Markets lifted their price target on shares of Navan from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.79.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NAVN. Royal Bank of Canada acquired a new stake in shares of Navan during the 4th quarter worth about $35,000. California State Teachers Retirement System acquired a new stake in shares of Navan during the 4th quarter worth about $39,000. Russell Investments Group Ltd. acquired a new stake in shares of Navan during the 4th quarter worth about $51,000. Sunbelt Securities Inc. acquired a new stake in shares of Navan during the 1st quarter worth about $71,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Navan during the 4th quarter worth about $101,000.

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.