Insider Selling: Navan (NASDAQ:NAVN) Major Shareholder Sells $20,398,000.00 in Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 1,019,900 shares of Navan stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $20.00, for a total value of $20,398,000.00. Following the completion of the transaction, the insider directly owned 3,761,089 shares in the company, valued at $75,221,780. This represents a 21.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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.

Navan Trading Up 0.9%

NAVN traded up $0.17 during trading on Monday, reaching $20.10. The company had a trading volume of 5,656,674 shares, compared to its average volume of 4,247,811. The firm’s 50-day simple moving average is $17.75 and its 200 day simple moving average is $14.60. The company has a market cap of $5.04 billion and a price-to-earnings ratio of -9.62. Navan, Inc. has a 12-month low of $8.10 and a 12-month high of $24.50. 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 issued its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.20. The company had revenue of $220.23 million during the quarter. The business’s revenue was up 39.8% on a year-over-year basis. Equities research analysts anticipate that Navan, Inc. will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On Navan

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada acquired a new stake in Navan during the 4th quarter worth about $35,000. California State Teachers Retirement System acquired a new stake in Navan during the 4th quarter worth about $39,000. Russell Investments Group Ltd. acquired a new stake in Navan during the 4th quarter worth about $51,000. Sunbelt Securities Inc. acquired a new stake in Navan during the 1st quarter worth about $71,000. Finally, Strs Ohio boosted its position in Navan by 86.4% during the 1st quarter. Strs Ohio now owns 12,300 shares of the company’s stock worth $163,000 after acquiring an additional 5,700 shares during the period.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NAVN. Citizens Jmp lifted their price target on Navan from $31.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Thursday. Oppenheimer set a $30.00 price target on Navan in a research note on Thursday. Jefferies Financial Group lifted their price target on Navan from $18.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday. Mizuho lifted their price target on Navan from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Citigroup restated an “outperform” rating on shares of Navan in a research report on Thursday. 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.