Navan, Inc. $NAVN Stock Acquired by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC raised its holdings in Navan, Inc. (NASDAQ:NAVN) by 2,221.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 387,738 shares of the company’s stock after acquiring an additional 371,038 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Navan were worth $8,139,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NAVN. Integrated Wealth Concepts LLC acquired a new stake in Navan during the 2nd quarter worth $25,000. Corient Private Wealth LP purchased a new position in shares of Navan in the 2nd quarter valued at approximately $1,310,000. Orion Capital Management LLC purchased a new position in Navan during the 2nd quarter worth $54,000. EMC Capital Management acquired a new stake in Navan in the second quarter valued at about $114,000. Finally, Handelsbanken Fonder AB acquired a new position in Navan during the second quarter worth $579,000.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $38.00 price objective on shares of Navan in a research note on Thursday, September 10th. Oppenheimer lifted their target price on shares of Navan from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Bank of America upped their price objective on shares of Navan from $26.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Citigroup reaffirmed an “outperform” rating on shares of Navan in a research report on Thursday, June 11th. Finally, TD Cowen reduced their price target on shares of Navan from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Thursday, September 10th. One 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Navan Stock Up 3.6%

Shares of NASDAQ NAVN traded up $0.80 during midday trading on Thursday, reaching $23.08. 2,990,431 shares of the company’s stock were exchanged, compared to its average volume of 3,342,236. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.38 and a current ratio of 4.38. Navan, Inc. has a 52-week low of $8.10 and a 52-week high of $30.88. The business’s fifty day moving average price is $25.36 and its two-hundred day moving average price is $21.56. The stock has a market capitalization of $6.01 billion and a PE ratio of -4.56.

Navan (NASDAQ:NAVN) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.17. Navan had a negative return on equity of 13.91% and a negative net margin of 42.11%.The firm had revenue of $232.79 million during the quarter. The business’s revenue was up 35.4% on a year-over-year basis. Analysts forecast that Navan, Inc. will post -0.29 EPS for the current year.

Insider Buying and Selling

In related news, CTO Ilan Twig sold 36,040 shares of the company’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $21.27, for a total value of $766,570.80. Following the sale, the chief technology officer directly owned 769,820 shares of the company’s stock, valued at $16,374,071.40. This represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Michael Sindicich sold 8,977 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $21.27, for a total transaction of $190,940.79. Following the transaction, the president directly owned 539,341 shares of the company’s stock, valued at approximately $11,471,783.07. This represents a 1.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 489,042 shares of company stock worth $13,891,186. Insiders own 63.39% of the company’s stock.

Navan Profile

Navan, Inc is a business travel and expense management technology company that provides an integrated platform for organizations and their employees. Its services are designed to help businesses manage corporate travel, employee spending, payments and related administrative processes through a centralized digital system.

The company’s platform supports travel booking for flights, hotels, rental cars and other accommodations, along with travel policies, approval workflows and traveler support.