Navan (NASDAQ:NAVN) CTO Ilan Ezra Twig Sells 24,726 Shares of Stock

Navan, Inc. (NASDAQ:NAVN) CTO Ilan Ezra Twig sold 24,726 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $21.06, for a total value of $520,729.56. Following the transaction, the chief technology officer owned 805,860 shares of the company’s stock, valued at $16,971,411.60. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Navan Stock Performance

Shares of NAVN traded down $0.38 during trading hours on Tuesday, reaching $21.28. 4,326,537 shares of the company’s stock traded hands, compared to its average volume of 3,054,333. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $24.50. The business’s fifty day simple moving average is $18.61 and its two-hundred day simple moving average is $14.78. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.31 and a quick ratio of 4.31. The firm has a market capitalization of $5.41 billion and a price-to-earnings ratio of -9.90.

Navan (NASDAQ:NAVN) last posted its quarterly earnings data on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.20. The company had revenue of $220.23 million during the quarter. Navan’s quarterly revenue was up 39.8% on a year-over-year basis. Analysts predict that Navan, Inc. will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NAVN has been the subject of several recent analyst reports. Oppenheimer set a $30.00 price objective on shares of Navan in a report on Thursday, June 11th. Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of Navan in a research report on Monday. TD Cowen increased their price target on Navan from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. BMO Capital Markets lifted their price target on Navan from $22.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 11th. Finally, The Goldman Sachs Group raised Navan from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Navan currently has an average rating of “Moderate Buy” and an average target price of $28.64.

Institutional Trading of Navan

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Navan during the fourth quarter valued at approximately $270,000. FNY Investment Advisers LLC acquired a new position in Navan in the fourth quarter worth approximately $115,000. Lunate Capital Ltd bought a new position in shares of Navan in the fourth quarter valued at $3,416,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Navan in the fourth quarter valued at $256,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Navan during the 4th quarter valued at $257,000.

About Navan

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.