Insider Selling: Navan (NASDAQ:NAVN) Director Sells $20,456,185.47 in Stock

Navan, Inc. (NASDAQ:NAVN) Director Arif Janmohamed sold 1,004,231 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $20.37, for a total transaction of $20,456,185.47. Following the sale, the director owned 2,756,858 shares of the company’s stock, valued at approximately $56,157,197.46. This represents a 26.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Arif Janmohamed also recently made the following trade(s):

• On Friday, June 12th, Arif Janmohamed sold 1,019,900 shares of Navan stock. The stock was sold at an average price of $20.00, for a total transaction of $20,398,000.00.

Navan Price Performance

Shares of Navan stock opened at $20.99 on Thursday. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $24.50. 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 company has a 50-day simple moving average of $18.06 and a two-hundred day simple moving average of $14.66. The stock has a market capitalization of $5.26 billion and a price-to-earnings ratio of -9.76.

Navan (NASDAQ:NAVN) last issued 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 business had revenue of $220.23 million during the quarter. The firm’s revenue was up 39.8% on a year-over-year basis. Analysts forecast that Navan, Inc. will post -0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

NAVN has been the subject of several analyst reports. BMO Capital Markets boosted their target price on shares of Navan from $22.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 11th. The Goldman Sachs Group raised shares of Navan from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Bank of America boosted their target price on shares of Navan from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Citizens Jmp boosted their target price on shares of Navan from $31.00 to $38.00 and gave the stock a “market outperform” rating in a report on Thursday, June 11th. Finally, Rosenblatt Securities boosted their target price on shares of Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.64.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada acquired a new position in shares of Navan in the 4th quarter worth approximately $35,000. California State Teachers Retirement System acquired a new position in shares of Navan during the 4th quarter valued at $39,000. Russell Investments Group Ltd. bought a new position in Navan during the fourth quarter worth $51,000. Sunbelt Securities Inc. bought a new position in Navan during the first quarter worth $71,000. Finally, New York State Common Retirement Fund bought a new position in Navan during the fourth quarter worth $101,000.

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.