Praxis Investment Management Inc. Makes New $568,000 Investment in Navan, Inc. $NAVN

Praxis Investment Management Inc. purchased a new position in shares of Navan, Inc. (NASDAQ:NAVN) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 33,284 shares of the company’s stock, valued at approximately $568,000.

Several other large investors also recently made changes to their positions in NAVN. SG Americas Securities LLC acquired a new stake in shares of Navan in the fourth quarter worth $270,000. FNY Investment Advisers LLC acquired a new stake in shares of Navan in the fourth quarter worth $115,000. Lunate Capital Ltd acquired a new stake in shares of Navan in the fourth quarter worth $3,416,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Navan in the fourth quarter worth $256,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Navan in the fourth quarter worth $257,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NAVN shares. The Goldman Sachs Group increased their price objective on shares of Navan from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. TD Cowen started coverage on shares of Navan in a research report on Wednesday, April 15th. They issued a “buy” rating and a $18.00 price objective for the company. Oppenheimer increased their price objective on shares of Navan from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Jefferies Financial Group dropped their price objective on shares of Navan from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. Finally, Citigroup dropped their price objective on shares of Navan from $26.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.57.

Navan Trading Down 1.6%

NAVN opened at $18.01 on Friday. The company’s fifty day moving average price is $12.41. The firm has a market cap of $4.52 billion and a price-to-earnings ratio of -8.62. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $22.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.07 and a current ratio of 4.07.

Navan (NASDAQ:NAVN) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.26. The firm had revenue of $177.92 million for the quarter. The firm’s revenue for the quarter was up 34.8% compared to the same quarter last year. On average, analysts forecast that Navan, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Activity at Navan

In related news, insider Anne Mary Giviskos sold 31,150 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $9.52, for a total transaction of $296,548.00. Following the completion of the sale, the insider directly owned 74,940 shares of the company’s stock, valued at approximately $713,428.80. This trade represents a 29.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ariel M. Cohen sold 151,007 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $8.62, for a total transaction of $1,301,680.34. Following the sale, the chief executive officer directly owned 1,003,918 shares of the company’s stock, valued at approximately $8,653,773.16. The trade was a 13.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 233,573 shares of company stock valued at $2,041,434.

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.