Insider Selling: Navan (NASDAQ:NAVN) Major Shareholder Sells 77,323 Shares of Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 77,323 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $19.06, for a total value of $1,473,776.38. Following the sale, the insider directly owned 2,280,989 shares of the company’s stock, valued at approximately $43,475,650.34. This trade represents a 3.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Lightspeed Venture Partners Se also recently made the following trade(s):

• On Tuesday, June 16th, Lightspeed Venture Partners Se sold 398,546 shares of Navan stock. The stock was sold at an average price of $19.13, for a total transaction of $7,624,184.98.
• On Monday, June 15th, Lightspeed Venture Partners Se sold 1,004,231 shares of Navan stock. The stock was sold at an average price of $20.37, for a total transaction of $20,456,185.47.
• On Friday, June 12th, Lightspeed Venture Partners Se sold 1,019,900 shares of Navan stock. The shares were sold at an average price of $20.00, for a total transaction of $20,398,000.00.

Navan Trading Up 4.4%

NAVN traded up $0.92 during trading on Thursday, hitting $21.91. 6,338,613 shares of the stock traded hands, compared to its average volume of 3,031,106. The firm has a market capitalization of $5.49 billion and a P/E ratio of -10.19. Navan, Inc. has a 12-month low of $8.10 and a 12-month high of $24.50. 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 50-day moving average of $18.06 and a 200 day moving average of $14.66.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NAVN shares. Needham & Company LLC boosted their price target on Navan from $25.00 to $30.00 and gave the company a “buy” rating in a report on Monday, June 8th. Rosenblatt Securities increased their price objective on Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, June 8th. TD Cowen lifted their price objective on Navan from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Morgan Stanley boosted their target price on Navan from $25.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group upgraded Navan from a “buy” rating to 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.64.

Hedge Funds Weigh In On Navan

A number of institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada purchased a new stake in shares of Navan during the fourth quarter valued at $35,000. California State Teachers Retirement System purchased a new position in Navan in the 4th quarter worth about $39,000. Russell Investments Group Ltd. bought a new position in Navan during the 4th quarter valued at about $51,000. Sunbelt Securities Inc. bought a new position in Navan during the 1st quarter valued at about $71,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Navan during the 4th quarter valued at about $101,000.

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.