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 the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $20.00, for a total transaction of $20,398,000.00. Following the completion of the sale, the insider directly owned 3,761,089 shares in the company, valued at approximately $75,221,780. The trade was a 21.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions 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 transaction of $20,456,185.47.

Navan Trading Up 10.3%

Shares of Navan stock opened at $20.99 on Thursday. Navan, Inc. has a 12-month low of $8.10 and a 12-month high of $24.50. The company has a market cap of $5.26 billion and a price-to-earnings ratio of -9.76. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $18.06 and its 200-day moving average price is $14.66.

Navan (NASDAQ:NAVN) last announced its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.20. The firm had revenue of $220.23 million during the quarter. The company’s quarterly revenue was up 39.8% compared to the same quarter last year. On average, equities analysts expect that Navan, Inc. will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Navan

A number of hedge funds have recently made changes to their positions in the business. Napean Trading & Investment Co Singapore PTE Ltd purchased a new position in shares of Navan in the fourth quarter worth $100,332,000. Teacher Retirement System of Texas purchased a new position in shares of Navan in the fourth quarter worth $8,540,000. Dragoneer Investment Group LLC purchased a new position in shares of Navan in the fourth quarter worth $35,791,000. Alkeon Capital Management LLC purchased a new position in shares of Navan in the fourth quarter worth $45,891,000. Finally, Lunate Capital Ltd purchased a new position in shares of Navan in the fourth quarter worth $3,416,000.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NAVN shares. Oppenheimer set a $30.00 target price on shares of Navan in a research note on Thursday, June 11th. Citizens Jmp boosted their price objective on shares of Navan from $31.00 to $38.00 and gave the stock a “market outperform” rating in a report on Thursday, June 11th. Citigroup restated an “outperform” rating on shares of Navan in a report on Thursday, June 11th. Jefferies Financial Group boosted their price objective on shares of Navan from $18.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Finally, Morgan Stanley boosted their price objective on shares of Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. One research 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.64.

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.