Wellington Management Group LLP Sells 1,966,632 Shares of Navan, Inc. $NAVN

Wellington Management Group LLP trimmed its holdings in shares of Navan, Inc. (NASDAQ:NAVN) by 37.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,276,813 shares of the company’s stock after selling 1,966,632 shares during the period. Wellington Management Group LLP’s holdings in Navan were worth $74,941,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NAVN. Versant Capital Management Inc lifted its position in shares of Navan by 23.2% during the 2nd quarter. Versant Capital Management Inc now owns 5,785 shares of the company’s stock valued at $132,000 after buying an additional 1,091 shares during the last quarter. Royal Bank of Canada bought a new position in shares of Navan in the fourth quarter valued at approximately $35,000. California State Teachers Retirement System bought a new position in Navan in the 4th quarter valued at $39,000. Russell Investments Group Ltd. purchased a new position in Navan during the fourth quarter worth about $51,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of Navan during the first quarter worth about $71,000.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Rosenblatt Securities upped their target price 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. Bank of America lifted their target price on shares of Navan from $26.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group upped their price target on Navan from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. The Goldman Sachs Group raised shares of Navan from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Finally, BNP Paribas Exane raised their target price on Navan from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.36.

Navan Trading Down 1.5%

Shares of NASDAQ:NAVN opened at $26.90 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.31 and a quick ratio of 4.31. The company has a market cap of $6.84 billion and a P/E ratio of -12.51. The stock’s fifty day moving average price is $26.84 and its 200-day moving average price is $19.25. Navan, Inc. has a 1 year low of $8.10 and a 1 year high of $30.88.

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

Insiders Place Their Bets

In other Navan news, Director Arif Janmohamed sold 1,019,900 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $20.00, for a total transaction of $20,398,000.00. Following the completion of the sale, the director directly owned 3,761,089 shares in the company, valued at $75,221,780. The trade was a 21.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ariel M. Cohen sold 225,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $30.14, for a total transaction of $6,781,500.00. Following the sale, the chief executive officer owned 1,086,242 shares of the company’s stock, valued at $32,739,333.88. This trade represents a 17.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 5,481,362 shares of company stock valued at $113,690,219. Insiders own 63.39% of the company’s stock.

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.