Navan (NASDAQ:NAVN) President Michael Eric Sindicich Sells 2,176 Shares of Stock

Navan, Inc. (NASDAQ:NAVN) President Michael Eric Sindicich sold 2,176 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $21.06, for a total transaction of $45,826.56. Following the sale, the president directly owned 548,318 shares in the company, valued at $11,547,577.08. This trade represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, May 28th, Michael Eric Sindicich sold 51,169 shares of Navan stock. The shares were sold at an average price of $20.20, for a total transaction of $1,033,613.80.

Navan Trading Down 1.8%

Shares of Navan stock opened at $21.28 on Wednesday. The firm has a 50-day simple moving average of $18.79 and a two-hundred day simple moving average of $14.82. The company has a market cap of $5.41 billion and a P/E ratio of -9.90. Navan, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $24.50. 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 (NASDAQ:NAVN) last posted 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 for the quarter. The business’s revenue for the quarter was up 39.8% compared to the same quarter last year. As a group, equities analysts predict that Navan, Inc. will post -0.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on NAVN shares. Bank of America raised their price objective on Navan from $20.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Jefferies Financial Group upped their target price on Navan from $18.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. The Goldman Sachs Group upgraded Navan from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Citigroup reissued an “outperform” rating on shares of Navan in a research note on Thursday, June 11th. Finally, Citizens Jmp boosted their price target on shares of Navan from $31.00 to $38.00 and gave the stock a “market outperform” rating in a report on Thursday, June 11th. One 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 issued a Sell rating to the company. According to MarketBeat, Navan presently has an average rating of “Moderate Buy” and an average target price of $28.64.

Institutional Investors Weigh In On Navan

Several large investors have recently bought and sold shares of NAVN. Royal Bank of Canada acquired a new position in shares of Navan during the fourth quarter valued at approximately $35,000. California State Teachers Retirement System acquired a new stake in shares of Navan in the fourth quarter worth approximately $39,000. Russell Investments Group Ltd. acquired a new stake in shares of Navan in the fourth quarter worth approximately $51,000. Sunbelt Securities Inc. purchased a new stake in shares of Navan during the first quarter worth approximately $71,000. Finally, New York State Common Retirement Fund acquired a new position in Navan in the 4th quarter valued at $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.