Navan (NASDAQ:NAVN) President Sells $45,826.56 in Stock

Navan, Inc. (NASDAQ:NAVN) President Michael Eric Sindicich sold 2,176 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $21.06, for a total value of $45,826.56. Following the completion of the sale, the president directly owned 548,318 shares of the company’s stock, valued at approximately $11,547,577.08. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michael Eric Sindicich also recently made the following trade(s):

• On Thursday, May 28th, Michael Eric Sindicich sold 51,169 shares of Navan stock. The stock was sold at an average price of $20.20, for a total transaction of $1,033,613.80.

Navan Stock Performance

NASDAQ:NAVN opened at $21.59 on Friday. The firm’s fifty day simple moving average is $19.11 and its 200-day simple moving average is $14.92. 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 stock has a market cap of $5.49 billion and a PE ratio of -10.04. Navan, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $24.50.

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

Institutional Trading of Navan

Several large investors have recently modified their holdings of the business. Royal Bank of Canada acquired a new position in shares of Navan during the 4th quarter worth approximately $35,000. California State Teachers Retirement System acquired a new stake in Navan during the 4th quarter valued at $39,000. Russell Investments Group Ltd. acquired a new stake in Navan during the 4th quarter valued at $51,000. Sunbelt Securities Inc. purchased a new position in Navan during the first quarter worth $71,000. Finally, Strs Ohio raised its holdings in shares of Navan by 86.4% in the first quarter. Strs Ohio now owns 12,300 shares of the company’s stock worth $163,000 after acquiring an additional 5,700 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of Navan in a research note on Monday. Mizuho raised their price objective on Navan from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. The Goldman Sachs Group upgraded Navan from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Weiss Ratings raised Navan from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, June 12th. Finally, BTIG Research raised their price target on Navan from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.64.

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.