Navan, Inc. (NASDAQ:NAVN) Short Interest Update

Navan, Inc. (NASDAQ:NAVN) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 11,416,427 shares, a growth of 106.0% from the June 15th total of 5,542,782 shares. Currently, 12.3% of the shares of the company are short sold. Based on an average daily trading volume, of 6,012,882 shares, the days-to-cover ratio is presently 1.9 days.

Analyst Ratings Changes

A number of analysts have commented on NAVN shares. Jefferies Financial Group upped their price target on Navan from $18.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Oppenheimer set a $30.00 price objective on Navan in a research report on Thursday, June 11th. The Goldman Sachs Group raised shares of Navan from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Citigroup restated an “outperform” rating on shares of Navan in a research note on Thursday, June 11th. Finally, Mizuho lifted their price target on shares of Navan from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.07.

Insider Buying and Selling at Navan

In other Navan news, CEO Ariel M. Cohen sold 41,530 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $21.06, for a total value of $874,621.80. Following the transaction, the chief executive officer directly owned 1,254,731 shares in the company, valued at approximately $26,424,634.86. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Lightspeed Venture Partners Se sold 8,983 shares of Navan stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $25.36, for a total transaction of $227,808.88. The SEC filing for this sale provides additional information. Insiders sold 5,139,153 shares of company stock valued at $102,867,420 in the last quarter. Insiders own 63.39% of the company’s stock.

Institutional Investors Weigh In On Navan

Several institutional investors and hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB purchased a new position in shares of Navan in the second quarter worth $579,000. Versant Capital Management Inc grew its stake in Navan by 23.2% during the second quarter. Versant Capital Management Inc now owns 5,785 shares of the company’s stock valued at $132,000 after acquiring an additional 1,091 shares in the last quarter. CTC Alternative Strategies Ltd. purchased a new position in Navan during the first quarter valued at $177,000. Bank of America Corp DE increased its holdings in Navan by 733.7% in the 1st quarter. Bank of America Corp DE now owns 210,524 shares of the company’s stock valued at $2,787,000 after acquiring an additional 185,271 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in Navan in the 1st quarter worth $367,000.

Navan Price Performance

Shares of Navan stock traded up $0.51 during trading hours on Thursday, hitting $25.80. The company’s stock had a trading volume of 3,866,353 shares, compared to its average volume of 3,330,017. The business has a 50 day moving average price of $21.66 and a two-hundred day moving average price of $15.98. Navan has a 12-month low of $8.10 and a 12-month high of $28.22. The company has a market cap of $6.56 billion and a PE ratio of -12.00. 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 released its earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.20. The business had revenue of $220.23 million for the quarter. Navan’s revenue was up 39.8% on a year-over-year basis. Analysts expect that Navan will post -0.37 earnings per share for the current fiscal year.

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.