Navan (NASDAQ:NAVN) Major Shareholder Horowitz Lsv Fund Andreessen Purchases 334,112 Shares

Navan, Inc. (NASDAQ:NAVN) major shareholder Horowitz Lsv Fund Andreessen acquired 334,112 shares of Navan stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average cost of $15.90 per share, for a total transaction of $5,312,380.80. Following the purchase, the insider owned 6,601,058 shares of the company’s stock, valued at $104,956,822.20. The trade was a 5.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Navan Price Performance

NASDAQ:NAVN traded up $0.97 during trading hours on Monday, hitting $16.50. 1,531,872 shares of the company were exchanged, compared to its average volume of 2,007,389. Navan, Inc. has a one year low of $11.76 and a one year high of $22.75. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.14.

Navan (NASDAQ:NAVN) last issued its quarterly earnings results on Monday, December 15th. The company reported ($4.58) earnings per share for the quarter.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NAVN shares. Citigroup started coverage on shares of Navan in a research note on Monday, November 24th. They set a “buy” rating and a $26.00 target price for the company. BNP Paribas set a $24.00 price target on Navan in a report on Monday, November 24th. JMP Securities set a $25.00 price objective on Navan in a research note on Monday, November 24th. Loop Capital upgraded Navan to a “strong-buy” rating in a research report on Monday, November 24th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $25.00 target price on shares of Navan in a report on Tuesday, December 23rd. One investment analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $24.92.

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.