FNY Investment Advisers LLC Trims Stock Position in Navan, Inc. $NAVN

FNY Investment Advisers LLC trimmed its stake in shares of Navan, Inc. (NASDAQ:NAVN) by 82.8% in the second quarter, Holdings Channel reports. The fund owned 12,500 shares of the company’s stock after selling 60,251 shares during the period. FNY Investment Advisers LLC’s holdings in Navan were worth $285,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in shares of Navan in the fourth quarter valued at approximately $270,000. Lunate Capital Ltd purchased a new position in Navan in the 4th quarter valued at $3,416,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Navan in the 4th quarter valued at $256,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Navan in the 4th quarter valued at $257,000. Finally, Teacher Retirement System of Texas purchased a new position in Navan during the 4th quarter worth $8,540,000.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America raised their target price on shares of Navan from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of Navan in a report on Monday, June 22nd. Citigroup restated an “outperform” rating on shares of Navan in a research report on Thursday, June 11th. Morgan Stanley lifted their price objective on Navan from $25.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Finally, BTIG Research boosted their target price on Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Navan currently has a consensus rating of “Moderate Buy” and an average price target of $29.07.

Insider Transactions at Navan

In related news, Director Arif Janmohamed sold 1,019,900 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $20.00, for a total value of $20,398,000.00. Following the completion of the transaction, the director directly owned 3,761,089 shares of the company’s stock, valued at $75,221,780. This trade represents a 21.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ariel M. Cohen sold 41,530 shares of Navan stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $21.06, for a total value of $874,621.80. Following the transaction, the chief executive officer directly owned 1,254,731 shares of the company’s stock, valued at approximately $26,424,634.86. This represents a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 5,139,153 shares of company stock valued at $102,867,420. Company insiders own 63.39% of the company’s stock.

Navan Trading Up 4.4%

Shares of NAVN opened at $29.08 on Friday. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average is $24.14 and its two-hundred day moving average is $17.12. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $29.42. The firm has a market capitalization of $7.40 billion and a P/E ratio of -13.53.

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

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.