Insider Buying: Navan (NASDAQ:NAVN) Director Acquires 347,600 Shares of Stock

Navan, Inc. (NASDAQ:NAVN) Director Benjamin Horowitz bought 347,600 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was acquired at an average cost of $12.65 per share, with a total value of $4,397,140.00. Following the completion of the transaction, the director directly owned 5,922,151 shares of the company’s stock, valued at approximately $74,915,210.15. This represents a 6.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Navan Stock Up 9.7%

Navan stock traded up $1.34 during trading hours on Friday, hitting $15.11. 10,653,071 shares of the stock were exchanged, compared to its average volume of 1,501,196. Navan, Inc. has a 12 month low of $11.76 and a 12 month high of $22.75.

Navan (NASDAQ:NAVN) last posted its quarterly earnings data on Monday, December 15th. The company reported ($4.58) earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NAVN shares. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price target on shares of Navan in a report on Friday, December 12th. JMP Securities set a $25.00 target price on shares of Navan in a research report on Monday, November 24th. The Goldman Sachs Group started coverage on Navan in a research report on Monday, November 24th. They issued a “buy” rating and a $29.00 target price on the stock. Oppenheimer assumed coverage on Navan in a report on Monday, November 24th. They issued an “outperform” rating and a $25.00 price objective on the stock. Finally, BNP Paribas set a $24.00 target price on shares of Navan in a research note on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price 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.