Horowitz Lsv Fund Andreessen Purchases 167,519 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Horowitz Lsv Fund Andreessen acquired 167,519 shares of Navan stock in a transaction dated Wednesday, December 24th. The shares were bought at an average cost of $15.83 per share, for a total transaction of $2,651,825.77. Following the completion of the purchase, the insider directly owned 6,994,061 shares of the company’s stock, valued at approximately $110,715,985.63. The trade was a 2.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Navan Trading Up 6.2%

Shares of NASDAQ NAVN traded up $0.97 during midday trading on Monday, reaching $16.50. The company had a trading volume of 1,531,872 shares, compared to its average volume of 2,007,389. Navan, Inc. has a one year low of $11.76 and a one year high of $22.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.49 and a quick ratio of 4.49.

Navan (NASDAQ:NAVN) last announced its quarterly earnings results on Monday, December 15th. The company reported ($4.58) EPS for the quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NAVN shares. Wall Street Zen raised shares of Navan to a “hold” rating in a research report on Friday, November 21st. Citizens Jmp reiterated a “market outperform” rating and set a $25.00 target price on shares of Navan in a report on Tuesday, December 23rd. Morgan Stanley reissued an “overweight” rating and issued a $20.00 target price on shares of Navan in a research note on Tuesday, December 16th. The Goldman Sachs Group initiated coverage on Navan in a research report on Monday, November 24th. They set a “buy” rating and a $29.00 price target for the company. Finally, Oppenheimer initiated coverage on Navan in a research report on Monday, November 24th. They issued an “outperform” rating and a $25.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $24.92.

About Navan

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.