Navan (NASDAQ:NAVN) Reaches New 1-Year Low – Time to Sell?

Navan, Inc. (NASDAQ:NAVN) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $11.56 and last traded at $11.70, with a volume of 1065995 shares trading hands. The stock had previously closed at $12.66.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NAVN. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price objective on shares of Navan in a report on Friday, December 12th. The Goldman Sachs Group dropped their price target on shares of Navan from $30.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday. Jefferies Financial Group set a $20.00 target price on shares of Navan in a research report on Tuesday, December 16th. Citigroup began coverage on Navan in a report on Monday, November 24th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, Wall Street Zen raised Navan to a “hold” rating in a research report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $24.42.

Navan Stock Down 8.4%

The company has a fifty day simple moving average of $15.38. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.14. The firm has a market cap of $2.88 billion and a P/E ratio of -5.92.

Insider Activity

In related news, Director Benjamin A. Horowitz bought 466,058 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were acquired at an average price of $16.27 per share, with a total value of $7,582,763.66. Following the completion of the transaction, the director owned 7,789,538 shares in the company, valued at $126,735,783.26. The trade was a 6.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Horowitz Lsv Fund I. Andreessen purchased 466,058 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was purchased at an average price of $16.27 per share, with a total value of $7,582,763.66. Following the purchase, the insider owned 7,789,538 shares of the company’s stock, valued at approximately $126,735,783.26. The trade was a 6.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 5,644,482 shares of company stock valued at $86,979,947 in the last quarter.

Institutional Trading of Navan

Hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new position in shares of Navan in the fourth quarter worth $115,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Navan in the 4th quarter valued at approximately $223,000. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Navan during the 4th quarter worth approximately $256,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Navan during the 4th quarter worth approximately $257,000. Finally, SG Americas Securities LLC bought a new position in Navan in the fourth quarter valued at approximately $270,000.

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.