Janus Henderson Group PLC Invests $367,000 in Navan, Inc. $NAVN

Janus Henderson Group PLC bought a new position in shares of Navan, Inc. (NASDAQ:NAVN) in the 1st quarter, Holdings Channel.com reports. The firm bought 27,700 shares of the company’s stock, valued at approximately $367,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada bought a new position in Navan in the 4th quarter worth approximately $35,000. California State Teachers Retirement System bought a new stake in shares of Navan during the fourth quarter valued at approximately $39,000. Russell Investments Group Ltd. purchased a new position in shares of Navan in the fourth quarter worth $51,000. Sunbelt Securities Inc. bought a new position in shares of Navan during the first quarter worth $71,000. Finally, New York State Common Retirement Fund bought a new position in shares of Navan during the fourth quarter worth $101,000.

Analysts Set New Price Targets

A number of analysts have issued reports on NAVN shares. 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. BMO Capital Markets lifted their target price on Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Morgan Stanley boosted their target price on Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. The Goldman Sachs Group raised Navan from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Finally, Citizens Jmp raised their price target on Navan from $31.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, June 11th. One research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.07.

Navan Stock Performance

Shares of Navan stock opened at $28.68 on Tuesday. The stock’s fifty day moving average is $24.26 and its two-hundred day moving average is $17.24. 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 company has a market capitalization of $7.29 billion and a PE ratio of -13.34. Navan, Inc. has a 52 week low of $8.10 and a 52 week high of $29.88.

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

Insider Activity at Navan

In other Navan news, Director Arif Janmohamed sold 77,323 shares of Navan stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $19.06, for a total transaction of $1,473,776.38. Following the completion of the sale, the director owned 2,280,989 shares of the company’s stock, valued at approximately $43,475,650.34. The trade was a 3.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Lightspeed Venture Partners Se sold 8,983 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were 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 have sold a total of 5,139,153 shares of company stock valued at $102,867,420 over the last three months. Company insiders own 63.39% of the company’s stock.

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.