Michael Eric Sindicich Sells 2,176 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) President Michael Eric Sindicich sold 2,176 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $21.06, for a total transaction of $45,826.56. Following the transaction, the president directly owned 548,318 shares of the company’s stock, valued at $11,547,577.08. This represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michael Eric Sindicich also recently made the following trade(s):

• On Thursday, May 28th, Michael Eric Sindicich sold 51,169 shares of Navan stock. The shares were sold at an average price of $20.20, for a total value of $1,033,613.80.

Navan Stock Performance

NASDAQ NAVN traded down $0.38 on Tuesday, hitting $21.28. 4,326,537 shares of the company’s stock were exchanged, compared to its average volume of 3,054,333. The firm has a market cap of $5.41 billion and a price-to-earnings ratio of -9.90. The firm’s 50-day moving average price is $18.61 and its two-hundred day moving average price is $14.78. Navan, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $24.50. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.31 and a quick 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 for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.20. The business had revenue of $220.23 million during the quarter. The company’s quarterly revenue was up 39.8% compared to the same quarter last year. On average, research analysts expect that Navan, Inc. will post -0.37 EPS for the current year.

Hedge Funds Weigh In On Navan

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NAVN. Royal Bank of Canada purchased a new stake in shares of Navan in the fourth quarter valued at about $35,000. California State Teachers Retirement System acquired a new stake in shares of Navan in the fourth quarter valued at approximately $39,000. Russell Investments Group Ltd. purchased a new position in shares of Navan during the 4th quarter worth approximately $51,000. Sunbelt Securities Inc. purchased a new position in shares of Navan during the 1st quarter worth approximately $71,000. Finally, Strs Ohio raised its position in shares of Navan by 86.4% during the 1st quarter. Strs Ohio now owns 12,300 shares of the company’s stock worth $163,000 after purchasing an additional 5,700 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NAVN. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price target on shares of Navan in a research note on Monday. TD Cowen boosted their price objective on shares of Navan from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Oppenheimer set a $30.00 target price on shares of Navan in a research report on Thursday, June 11th. The Goldman Sachs Group upgraded shares of Navan from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Finally, BMO Capital Markets boosted their price target on Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a research note 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 assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.