Navan (NASDAQ:NAVN) Director Arif Janmohamed Sells 1,019,900 Shares

Navan, Inc. (NASDAQ:NAVN) Director Arif Janmohamed sold 1,019,900 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $20.00, for a total value of $20,398,000.00. Following the sale, the director owned 3,761,089 shares in the company, valued at approximately $75,221,780. This represents a 21.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, June 15th, Arif Janmohamed sold 1,004,231 shares of Navan stock. The shares were sold at an average price of $20.37, for a total value of $20,456,185.47.

Navan Price Performance

NAVN stock traded up $0.17 during trading on Monday, hitting $20.10. The company had a trading volume of 5,656,674 shares, compared to its average volume of 4,247,811. The company has a fifty day moving average price of $17.75 and a two-hundred day moving average price of $14.60. 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 company has a market cap of $5.04 billion and a P/E ratio of -9.62. 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 results 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 company’s revenue for the quarter was up 39.8% on a year-over-year basis. Equities research analysts expect that Navan, Inc. will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Navan

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. TD Cowen boosted their price target on Navan from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley boosted their price target on Navan from $25.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho boosted their price objective on Navan from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday. The Goldman Sachs Group raised Navan from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Finally, Rosenblatt Securities boosted their price objective on Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. One research 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 company. According to data from MarketBeat, Navan currently has an average rating of “Moderate Buy” and an average price target 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.