Navan (NASDAQ:NAVN) President Michael Eric Sindicich Sells 8,977 Shares

Navan, Inc. (NASDAQ:NAVN) President Michael Sindicich sold 8,977 shares of the firm’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $21.27, for a total value of $190,940.79. Following the completion of the transaction, the president owned 539,341 shares in the company, valued at approximately $11,471,783.07. This represents a 1.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Navan Trading Down 6.2%

Navan stock traded down $1.31 during trading hours on Wednesday, reaching $19.66. 4,543,238 shares of the company’s stock traded hands, compared to its average volume of 4,724,609. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.38 and a current ratio of 4.38. Navan, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $30.88. The firm’s 50 day moving average is $26.33 and its 200-day moving average is $20.64.

Navan (NASDAQ:NAVN) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.17. Navan had a negative net margin of 42.11% and a negative return on equity of 13.91%. The business had revenue of $232.79 million during the quarter. Navan’s revenue for the quarter was up 35.4% compared to the same quarter last year. As a group, research analysts forecast that Navan, Inc. will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On Navan

Several institutional investors have recently added to or reduced their stakes in NAVN. Integrated Wealth Concepts LLC bought a new position in Navan during the 2nd quarter worth about $25,000. Corient Private Wealth LP acquired a new position in shares of Navan during the second quarter worth about $1,310,000. Orion Capital Management LLC bought a new position in shares of Navan during the second quarter worth about $54,000. EMC Capital Management acquired a new stake in Navan in the 2nd quarter valued at approximately $114,000. Finally, Handelsbanken Fonder AB bought a new stake in Navan in the 2nd quarter valued at approximately $579,000.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Bank of America raised their target price on Navan from $26.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. TD Cowen decreased their price objective on shares of Navan from $34.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, September 10th. Rosenblatt Securities increased their target price on shares of Navan from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. Mizuho upped their price objective on shares of Navan from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 11th. Finally, Citigroup reissued an “outperform” rating on shares of Navan in a research note on Thursday, June 11th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.50.

Navan Company Profile

Navan, Inc is a business travel and expense management technology company. The company provides an integrated platform that helps organizations plan and book business travel, manage travel-related spending, and streamline expense reporting and reimbursement.

Its products and services include corporate travel booking, lodging and transportation reservations, expense management tools, payment and corporate card capabilities, travel policy controls, and reporting solutions. Navan also uses automation and artificial intelligence to assist employees with trip planning and help companies manage travel programs and spending.

The company was founded in 2015 as TripActions by Ariel Cohen and Ilan Twig and later adopted the Navan name as its platform expanded beyond travel booking into broader spend management.