Navan (NASDAQ:NAVN) CEO Sells $874,621.80 in Stock

Navan, Inc. (NASDAQ:NAVN) CEO Ariel Cohen sold 41,530 shares of Navan stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $21.06, for a total value of $874,621.80. Following the completion of the transaction, the chief executive officer directly owned 1,254,731 shares in the company, valued at approximately $26,424,634.86. This represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Navan Stock Performance

Shares of NAVN stock opened at $21.59 on Friday. The company has a market cap of $5.49 billion and a price-to-earnings ratio of -10.04. Navan, Inc. has a 52 week low of $8.10 and a 52 week high of $24.50. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $19.11 and a 200-day moving average of $14.92.

Navan (NASDAQ:NAVN) last posted its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 EPS 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 firm’s revenue was up 39.8% compared to the same quarter last year. On average, equities analysts forecast that Navan, Inc. will post -0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

NAVN has been the topic of a number of research reports. Oppenheimer set a $30.00 price target on Navan in a research note on Thursday, June 11th. Bank of America boosted their price objective on Navan from $20.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Rosenblatt Securities upped their target price on Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. BTIG Research increased their target price on Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Finally, Citizens Jmp lifted their price target on shares of Navan from $31.00 to $38.00 and gave the company a “market outperform” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.64.

Hedge Funds Weigh In On Navan

A number of hedge funds have recently added to or reduced their stakes in NAVN. Lightspeed Management Company L.L.C. bought a new stake in Navan during the 4th quarter worth approximately $852,658,000. a16z Capital Management L.L.C. bought a new position in shares of Navan in the fourth quarter valued at approximately $464,497,000. Greenoaks Capital Partners LLC purchased a new position in shares of Navan during the fourth quarter valued at approximately $274,088,000. Cosmic Management LLC bought a new stake in Navan during the fourth quarter worth $121,930,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd bought a new stake in Navan during the fourth quarter worth $100,332,000.

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.