Navan (NASDAQ:NAVN) CEO Ariel Cohen Sells 8,033 Shares of Stock

Navan, Inc. (NASDAQ:NAVN) CEO Ariel Cohen sold 8,033 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $26.13, for a total value of $209,902.29. Following the transaction, the chief executive officer directly owned 1,027,562 shares in the company, valued at approximately $26,850,195.06. The trade was a 0.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Navan Stock Performance

Shares of Navan stock opened at $24.80 on Wednesday. The business has a 50-day moving average of $24.31 and a 200 day moving average of $19.54. Navan, Inc. has a 12 month low of $8.10 and a 12 month high of $30.88. The stock has a market capitalization of $6.46 billion and a price-to-earnings ratio of -4.90. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.38 and a quick ratio of 4.38.

Navan (NASDAQ:NAVN) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.17. The company had revenue of $232.79 million for the quarter. Navan had a negative net margin of 42.11% and a negative return on equity of 13.91%. The company’s revenue was up 35.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Navan, Inc. will post -0.29 earnings per share for the current year.

Hedge Funds Weigh In On Navan

Several hedge funds and other institutional investors have recently made changes to their positions in NAVN. Pictet Asset Management Holding SA purchased a new position in Navan in the third quarter worth approximately $225,000. CenterBook Partners LP grew its holdings in Navan by 94.5% during the 3rd quarter. CenterBook Partners LP now owns 89,119 shares of the company’s stock worth $1,871,000 after acquiring an additional 43,291 shares in the last quarter. State of Wyoming acquired a new position in Navan during the 3rd quarter worth approximately $111,000. Sterling Capital Management LLC grew its holdings in Navan by 859.8% during the 3rd quarter. Sterling Capital Management LLC now owns 3,513 shares of the company’s stock worth $74,000 after acquiring an additional 3,147 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Navan by 13.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,650 shares of the company’s stock valued at $77,000 after purchasing an additional 420 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Citizens Jmp reaffirmed a “market outperform” rating and set a $38.00 target price on shares of Navan in a research note on Thursday, September 10th. BTIG Research reiterated a “buy” rating and set a $30.00 target price on shares of Navan in a report on Thursday, September 10th. Wall Street Zen raised shares of Navan from a “hold” rating to a “buy” rating in a research report on Saturday. BNP Paribas Exane boosted their price target on shares of Navan from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Finally, Bank of America upped their price objective on Navan from $26.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. One 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 assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.50.

Navan Company Profile

Navan, Inc is a travel and expense management technology company that provides software and services for businesses and their employees. The company’s platform is designed to bring corporate travel booking, expense management, payments and related administrative functions into a unified system.

Navan’s products include tools for booking flights, hotels, rental cars and other business travel, as well as expense reporting, reimbursement and corporate card management. Its platform also offers travel-policy controls, reporting and automation features intended to help companies manage spending and support employees during business trips.

The company was founded in 2015 as TripActions by Ariel Cohen and Ilan Twig and adopted the Navan name in 2023.