Lightspeed Venture Partners Se Sells 10,569 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 10,569 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $24.65, for a total transaction of $260,525.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Lightspeed Venture Partners Se also recently made the following trade(s):

• On Wednesday, June 17th, Lightspeed Venture Partners Se sold 77,323 shares of Navan stock. The shares were sold at an average price of $19.06, for a total transaction of $1,473,776.38.
• On Tuesday, June 16th, Lightspeed Venture Partners Se sold 398,546 shares of Navan stock. The shares were sold at an average price of $19.13, for a total value of $7,624,184.98.
• On Monday, June 15th, Lightspeed Venture Partners Se sold 1,004,231 shares of Navan stock. The stock was sold at an average price of $20.37, for a total value of $20,456,185.47.
• On Friday, June 12th, Lightspeed Venture Partners Se sold 1,019,900 shares of Navan stock. The stock was sold at an average price of $20.00, for a total value of $20,398,000.00.

Navan Stock Up 5.9%

NASDAQ NAVN traded up $1.42 on Thursday, reaching $25.67. 6,415,930 shares of the stock traded hands, compared to its average volume of 5,706,518. Navan, Inc. has a 12 month low of $8.10 and a 12 month high of $25.86. The company has a market cap of $6.53 billion and a price-to-earnings ratio of -11.94. The company has a fifty day moving average price of $20.00 and a 200-day moving average price of $15.27. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31.

Navan (NASDAQ:NAVN) last posted its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.20. The firm had revenue of $220.23 million for the quarter. The business’s quarterly revenue was up 39.8% on a year-over-year basis. As a group, research analysts forecast that Navan, Inc. will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Navan

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc grew its holdings in 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 purchasing an additional 1,091 shares during the last quarter. CTC Alternative Strategies Ltd. purchased a new stake in shares of Navan during the 1st quarter valued at $177,000. Bank of America Corp DE boosted its position in shares of Navan by 733.7% in the 1st quarter. Bank of America Corp DE now owns 210,524 shares of the company’s stock worth $2,787,000 after purchasing an additional 185,271 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Navan in the 1st quarter worth $367,000. Finally, Sunbelt Securities Inc. purchased a new position in Navan during the 1st quarter worth $71,000.

Analyst Ratings Changes

NAVN has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on shares of Navan from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. TD Cowen lifted their price objective on shares of Navan from $28.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Weiss Ratings raised shares of Navan from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, June 12th. Oppenheimer set a $30.00 target price on Navan in a report on Thursday, June 11th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Navan in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Navan currently has a consensus rating of “Moderate Buy” and an average price target of $28.64.

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.