Insider Selling: Navan (NASDAQ:NAVN) Director Sells $7,624,184.98 in Stock

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

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

• On Wednesday, June 17th, Arif Janmohamed sold 77,323 shares of Navan stock. The shares were 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 stock was 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 stock was sold at an average price of $20.00, for a total value of $20,398,000.00.

Navan Stock Up 4.4%

Shares of NAVN stock traded up $0.92 during trading hours on Thursday, reaching $21.91. The company had a trading volume of 6,338,613 shares, compared to its average volume of 3,031,106. The company has a market capitalization of $5.49 billion and a P/E ratio of -10.19. 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, Inc. has a twelve month low of $8.10 and a twelve month high of $24.50. The stock’s fifty day simple moving average is $18.06 and its 200 day simple moving average is $14.66.

Navan (NASDAQ:NAVN) last released its quarterly 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 company had revenue of $220.23 million for the quarter. The company’s revenue for the quarter was up 39.8% compared to the same quarter last year. As a group, sell-side analysts expect that Navan, Inc. will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Navan

Several institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada acquired a new stake in shares of Navan during the fourth quarter worth approximately $35,000. California State Teachers Retirement System bought a new stake in shares of Navan in the fourth quarter worth $39,000. Russell Investments Group Ltd. acquired a new stake in Navan in the fourth quarter valued at $51,000. Sunbelt Securities Inc. acquired a new stake in Navan in the first quarter valued at $71,000. Finally, Strs Ohio boosted its stake in Navan by 86.4% during the 1st quarter. Strs Ohio now owns 12,300 shares of the company’s stock valued at $163,000 after acquiring an additional 5,700 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America upped 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. BMO Capital Markets lifted their price target on shares of Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, June 11th. Citizens Jmp boosted their price objective 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. Rosenblatt Securities upped 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. Finally, The Goldman Sachs Group upgraded Navan from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. One equities research 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.64.

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.