Insider Buying: Navan (NASDAQ:NAVN) Major Shareholder Buys 103,960 Shares of Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Horowitz Fund Andreessen acquired 103,960 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was acquired at an average price of $13.61 per share, for a total transaction of $1,414,895.60. Following the acquisition, the insider owned 6,026,111 shares of the company’s stock, valued at approximately $82,015,370.71. This trade represents a 1.76% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Navan Price Performance

Shares of NAVN traded up $1.34 on Friday, hitting $15.11. 10,653,071 shares of the stock traded hands, compared to its average volume of 1,501,196. Navan, Inc. has a one year low of $11.76 and a one year high of $22.75.

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

Wall Street Analyst Weigh In

NAVN has been the subject of a number of analyst reports. JMP Securities set a $25.00 price target on Navan in a research report on Monday, November 24th. The Goldman Sachs Group assumed coverage on Navan in a research note on Monday, November 24th. They issued a “buy” rating and a $29.00 price target for the company. Oppenheimer assumed coverage on Navan in a research note on Monday, November 24th. They issued an “outperform” rating and a $25.00 price target for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 target price on shares of Navan in a research note on Friday, December 12th. Finally, Citigroup assumed coverage on Navan in a report on Monday, November 24th. They set a “buy” rating and a $26.00 price target for the company. One analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Navan presently has an average 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.