Horowitz Lsv Fund Andreessen Acquires 229,917 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Horowitz Lsv Fund Andreessen purchased 229,917 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The stock was bought at an average price of $15.57 per share, with a total value of $3,579,807.69. Following the transaction, the insider owned 7,223,978 shares of the company’s stock, valued at $112,477,337.46. This represents a 3.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Navan Price Performance

NASDAQ NAVN traded up $0.97 on Monday, hitting $16.50. 1,531,872 shares of the stock were exchanged, compared to its average volume of 2,007,389. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.14. Navan, Inc. has a 52-week low of $11.76 and a 52-week high of $22.75.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of Navan to a “hold” rating in a research note on Friday, November 21st. Oppenheimer began coverage on shares of Navan in a research report on Monday, November 24th. They issued an “outperform” rating and a $25.00 price objective for the company. Mizuho initiated coverage on Navan in a research note on Monday, November 24th. They set an “outperform” rating and a $25.00 target price for the company. Citigroup started coverage on Navan in a research report on Monday, November 24th. They set a “buy” rating and a $26.00 target price on the stock. Finally, JMP Securities set a $25.00 price target on shares of Navan in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the stock. According to MarketBeat.com, Navan presently has an average rating of “Buy” and a consensus target price of $24.92.

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.