Ariel Cohen Sells 50,647 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) CEO Ariel Cohen sold 50,647 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $21.27, for a total value of $1,077,261.69. Following the completion of the transaction, the chief executive officer directly owned 1,035,595 shares of the company’s stock, valued at $22,027,105.65. The trade was a 4.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Navan Stock Down 6.2%

Shares of NASDAQ NAVN traded down $1.31 during mid-day trading on Wednesday, hitting $19.66. The company had a trading volume of 4,543,238 shares, compared to its average volume of 4,724,609. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.38 and a quick ratio of 4.38. Navan, Inc. has a 1 year low of $8.10 and a 1 year high of $30.88. The stock’s 50-day moving average price is $26.33 and its 200-day moving average price is $20.64.

Navan (NASDAQ:NAVN) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.17. Navan had a negative return on equity of 13.91% and a negative net margin of 42.11%.The business had revenue of $232.79 million for the quarter. Navan’s revenue for the quarter was up 35.4% on a year-over-year basis. On average, sell-side analysts expect that Navan, Inc. will post -0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

NAVN has been the subject of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of Navan from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. BTIG Research reiterated a “buy” rating and issued a $30.00 target price on shares of Navan in a research note on Thursday, September 10th. Citigroup reissued an “outperform” rating on shares of Navan in a report on Thursday, June 11th. Morgan Stanley boosted their target price on Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Navan in a research report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Navan presently has an average rating of “Moderate Buy” and an average target price of $30.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new stake in Navan during the 2nd quarter valued at $25,000. Orion Capital Management LLC purchased a new stake in Navan in the second quarter worth about $54,000. EMC Capital Management bought a new position in Navan in the second quarter worth $114,000. Sunbelt Securities Inc. bought a new stake in Navan during the first quarter worth about $71,000. Finally, Versant Capital Management Inc grew its stake in shares of Navan by 23.2% in the second quarter. Versant Capital Management Inc now owns 5,785 shares of the company’s stock worth $132,000 after acquiring an additional 1,091 shares during the last quarter.

Navan Company Profile

Navan, Inc is a business travel and expense management technology company. The company provides an integrated platform that helps organizations plan and book business travel, manage travel-related spending, and streamline expense reporting and reimbursement.

Its products and services include corporate travel booking, lodging and transportation reservations, expense management tools, payment and corporate card capabilities, travel policy controls, and reporting solutions. Navan also uses automation and artificial intelligence to assist employees with trip planning and help companies manage travel programs and spending.

The company was founded in 2015 as TripActions by Ariel Cohen and Ilan Twig and later adopted the Navan name as its platform expanded beyond travel booking into broader spend management.