Navan (NASDAQ:NAVN) Director Sells 398,546 Shares

Navan, Inc. (NASDAQ:NAVN) Director Arif Janmohamed sold 398,546 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $19.13, for a total transaction of $7,624,184.98. Following the completion of the sale, the director owned 2,358,312 shares in the company, valued at approximately $45,114,508.56. This trade represents a 14.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Arif Janmohamed also recently made the following trade(s):

• On Wednesday, June 17th, Arif Janmohamed sold 77,323 shares of Navan stock. The stock was sold at an average price of $19.06, for a total value of $1,473,776.38.
• On Monday, June 15th, Arif Janmohamed 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.
• On Friday, June 12th, Arif Janmohamed sold 1,019,900 shares of Navan stock. The shares were sold at an average price of $20.00, for a total value of $20,398,000.00.

Navan Stock Performance

NASDAQ:NAVN traded up $0.92 during trading hours on Thursday, reaching $21.91. 6,338,613 shares of the stock were exchanged, compared to its average volume of 3,031,106. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.10. The firm has a 50 day simple moving average of $18.06 and a 200-day simple moving average of $14.66. Navan, Inc. has a 52 week low of $8.10 and a 52 week high of $24.50. The stock has a market capitalization of $5.49 billion and a P/E ratio of -10.19.

Navan (NASDAQ:NAVN) last issued its earnings results on Wednesday, June 10th. The company reported $0.08 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 firm’s revenue for the quarter was up 39.8% on a year-over-year basis. As a group, sell-side analysts forecast that Navan, Inc. will post -0.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on NAVN shares. Bank of America boosted their target price on shares of Navan from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Rosenblatt Securities raised their price target on shares of Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Citigroup reaffirmed an “outperform” rating on shares of Navan in a research report on Thursday, June 11th. Citizens Jmp increased their price objective on shares of Navan from $31.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Thursday, June 11th. Finally, BTIG Research raised their target price on shares of Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Navan has a consensus rating of “Moderate Buy” and a consensus price target of $28.64.

Institutional Investors Weigh In On Navan

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada acquired a new position in shares of Navan during the fourth quarter valued at $35,000. California State Teachers Retirement System bought a new position in shares of Navan during the fourth quarter worth about $39,000. Russell Investments Group Ltd. acquired a new stake in shares of Navan in the 4th quarter worth about $51,000. Sunbelt Securities Inc. bought a new stake in Navan in the 1st quarter valued at about $71,000. Finally, New York State Common Retirement Fund bought a new stake in Navan in the 4th quarter valued at about $101,000.

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.