Insider Selling: Navan (NASDAQ:NAVN) Director Sells 1,004,231 Shares of Stock

by · The Markets Daily

Navan, Inc. (NASDAQ:NAVN – Get Free Report) Director Arif Janmohamed sold 1,004,231 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $20.37, for a total value of $20,456,185.47. Following the transaction, the director owned 2,756,858 shares of the company’s stock, valued at approximately $56,157,197.46. This trade represents a 26.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

  • On Friday, June 12th, Arif Janmohamed 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 Stock Up 0.9%

NASDAQ NAVN traded up $0.17 during trading hours on Monday, reaching $20.10. 5,656,674 shares of the company traded hands, compared to its average volume of 4,247,811. Navan, Inc. has a 12 month low of $8.10 and a 12 month high of $24.50. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $5.04 billion and a PE ratio of -9.62. The company has a 50 day moving average of $17.75 and a two-hundred day moving average of $14.60.

Navan (NASDAQ:NAVN – Get Free Report) last posted its quarterly earnings data on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.20. The company had revenue of $220.23 million for the quarter. The business’s quarterly revenue was up 39.8% compared to the same quarter last year. As a group, equities analysts expect that Navan, Inc. will post -0.33 earnings per share for the current year.

Hedge Funds Weigh In On Navan

Several large investors have recently added to or reduced their stakes in the company. CTC Alternative Strategies Ltd. bought a new position in Navan during the first quarter worth $177,000. Bank of America Corp DE lifted its stake in Navan by 733.7% during the first quarter. Bank of America Corp DE now owns 210,524 shares of the company’s stock worth $2,787,000 after purchasing an additional 185,271 shares during the last quarter. Janus Henderson Group PLC bought a new position in Navan during the first quarter worth $367,000. Sunbelt Securities Inc. bought a new position in Navan during the first quarter worth $71,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Navan by 160.3% during the first quarter. The Manufacturers Life Insurance Company now owns 38,212 shares of the company’s stock worth $506,000 after purchasing an additional 23,534 shares during the last quarter.

Analyst Upgrades and Downgrades

NAVN has been the topic of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of Navan from $22.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday. Citizens Jmp increased their price objective on shares of Navan from $31.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday. Mizuho raised their price objective on Navan from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday. TD Cowen raised their price objective on Navan from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC raised their price objective on Navan from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Navan has a consensus rating of “Moderate Buy” and an average target price of $28.64.

Check Out Our Latest Analysis on Navan

Navan Company Profile

(Get Free Report)

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.

Read More