Horowitz Lsv Fund Andreessen Buys 308,188 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Horowitz Lsv Fund Andreessen bought 308,188 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was acquired at an average cost of $16.74 per share, for a total transaction of $5,159,067.12. Following the purchase, the insider owned 8,300,455 shares of the company’s stock, valued at $138,949,616.70. This trade represents a 3.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Navan Trading Up 2.4%

NASDAQ:NAVN traded up $0.40 during mid-day trading on Tuesday, hitting $17.00. The company’s stock had a trading volume of 1,773,650 shares, compared to its average volume of 2,362,481. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.49 and a quick ratio of 4.49. Navan, Inc. has a fifty-two week low of $11.76 and a fifty-two week high of $22.75.

Analyst Upgrades and Downgrades

Several research firms recently commented on NAVN. Jefferies Financial Group set a $20.00 target price on Navan in a research report on Tuesday, December 16th. Citizens Jmp reiterated a “market outperform” rating and set a $25.00 price objective on shares of Navan in a research note on Tuesday, December 23rd. Rosenblatt Securities restated a “buy” rating and issued a $30.00 target price on shares of Navan in a research note on Friday, December 12th. Wall Street Zen raised shares of Navan to a “hold” rating in a report on Friday, November 21st. Finally, The Goldman Sachs Group started coverage on shares of Navan in a research report on Monday, November 24th. They set a “buy” rating and a $29.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Navan has an average rating of “Buy” and a consensus price target of $24.92.

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.