Insider Buying: Navan (NASDAQ:NAVN) Major Shareholder Acquires 99,502 Shares of Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Horowitz Lsv Fund Andreessen acquired 99,502 shares of the stock in a transaction on Monday, December 29th. The shares were acquired at an average cost of $16.16 per share, for a total transaction of $1,607,952.32. Following the completion of the transaction, the insider directly owned 7,323,480 shares in the company, valued at $118,347,436.80. The trade was a 1.38% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Navan Trading Up 6.2%

Shares of NAVN traded up $0.97 during mid-day trading on Monday, hitting $16.50. 1,531,872 shares of the company’s stock were exchanged, compared to its average volume of 2,007,389. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.14. Navan, Inc. has a fifty-two week low of $11.76 and a fifty-two week high of $22.75.

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

Analysts Set New Price Targets

Several brokerages have issued reports on NAVN. Jefferies Financial Group set a $20.00 price objective on shares of Navan in a research note on Tuesday, December 16th. Citizens Jmp reiterated a “market outperform” rating and set a $25.00 price target on shares of Navan in a research note on Tuesday, December 23rd. Rosenblatt Securities reissued a “buy” rating and set a $30.00 price target on shares of Navan in a report on Friday, December 12th. BTIG Research started coverage on Navan in a report on Monday, November 24th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, JMP Securities set a $25.00 target price on Navan in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. According to MarketBeat.com, the company 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.