Benjamin Horowitz Buys 240,835 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) Director Benjamin Horowitz bought 240,835 shares of the stock in a transaction dated Friday, December 19th. The shares were bought at an average price of $14.70 per share, for a total transaction of $3,540,274.50. Following the completion of the acquisition, the director owned 6,266,946 shares in the company, valued at approximately $92,124,106.20. The trade was a 4.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Navan Stock Performance

NAVN traded up $1.34 on Friday, hitting $15.11. The company had a trading volume of 10,653,071 shares, compared to its average volume of 1,501,196. Navan, Inc. has a 1 year low of $11.76 and a 1 year high of $22.75.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Oppenheimer started coverage on Navan in a research report on Monday, November 24th. They issued an “outperform” rating and a $25.00 price objective for the company. Needham & Company LLC reissued a “buy” rating on shares of Navan in a research note on Monday. Mizuho began coverage on shares of Navan in a research note on Monday, November 24th. They set an “outperform” rating and a $25.00 price target on the stock. JMP Securities set a $25.00 price target on shares of Navan in a research report on Monday, November 24th. Finally, The Goldman Sachs Group started coverage on shares of Navan in a research report on Monday, November 24th. They set a “buy” rating and a $29.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company’s stock. According to MarketBeat, Navan currently has a consensus rating of “Buy” and a consensus price target 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.