Quantinno Capital Management LP Takes $1.53 Million Position in Navan, Inc. $NAVN

Quantinno Capital Management LP purchased a new position in shares of Navan, Inc. (NASDAQ:NAVN) during the first quarter, HoldingsChannel reports. The firm purchased 115,647 shares of the company’s stock, valued at approximately $1,531,000.

A number of other hedge funds have also recently added to or reduced their stakes in NAVN. Royal Bank of Canada purchased a new stake in Navan in the 4th quarter valued at approximately $35,000. California State Teachers Retirement System purchased a new position in shares of Navan during the 4th quarter worth approximately $39,000. Russell Investments Group Ltd. acquired a new stake in shares of Navan in the 4th quarter valued at approximately $51,000. New York State Common Retirement Fund purchased a new stake in shares of Navan in the fourth quarter valued at approximately $101,000. Finally, Strs Ohio purchased a new stake in shares of Navan in the fourth quarter valued at approximately $113,000.

Navan Stock Performance

NASDAQ NAVN opened at $28.78 on Thursday. The business has a 50 day moving average price of $24.51 and a 200 day moving average price of $17.44. The company has a market capitalization of $7.32 billion and a P/E ratio of -13.39. Navan, Inc. has a 1-year low of $8.10 and a 1-year high of $29.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.31 and a quick ratio of 4.31.

Navan (NASDAQ:NAVN) last posted its earnings results on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.20. The firm had revenue of $220.23 million for the quarter. The company’s quarterly revenue was up 39.8% compared to the same quarter last year. Sell-side analysts expect that Navan, Inc. will post -0.37 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Lightspeed Venture Partners Se sold 8,983 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $25.36, for a total value of $227,808.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Ilan Ezra Twig sold 24,726 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $21.06, for a total transaction of $520,729.56. Following the completion of the sale, the chief technology officer directly owned 805,860 shares in the company, valued at approximately $16,971,411.60. The trade was a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 5,139,153 shares of company stock worth $102,867,420. 63.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

NAVN has been the subject of several research analyst reports. BTIG Research increased their price objective on Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. 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 research report on Monday, June 8th. TD Cowen upped their price target on shares of Navan from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. BNP Paribas Exane increased their price target on shares of Navan from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Citizens Jmp raised 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, June 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.07.

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.