Navan (NASDAQ:NAVN) Director Arif Janmohamed Sells 77,323 Shares

Navan, Inc. (NASDAQ:NAVN) Director Arif Janmohamed sold 77,323 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.06, for a total value of $1,473,776.38. Following the completion of the sale, the director directly owned 2,280,989 shares of the company’s stock, valued at $43,475,650.34. The trade was a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, June 16th, Arif Janmohamed sold 398,546 shares of Navan stock. The shares were sold at an average price of $19.13, for a total value of $7,624,184.98.
• On Monday, June 15th, Arif Janmohamed sold 1,004,231 shares of Navan stock. The stock was sold at an average price of $20.37, for a total transaction of $20,456,185.47.
• On Friday, June 12th, Arif Janmohamed sold 1,019,900 shares of Navan stock. The stock was sold at an average price of $20.00, for a total transaction of $20,398,000.00.

Navan Stock Up 4.4%

Shares of NAVN stock traded up $0.92 on Thursday, hitting $21.91. The stock had a trading volume of 6,338,613 shares, compared to its average volume of 3,031,106. The business has a 50 day moving average of $18.06 and a 200 day moving average of $14.66. The stock has a market cap of $5.49 billion and a price-to-earnings ratio of -10.19. 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, Inc. has a 12-month low of $8.10 and a 12-month high of $24.50.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America increased their price target on Navan from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Rosenblatt Securities boosted their price objective on Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Citizens Jmp upped their price objective on Navan from $31.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, June 11th. Mizuho raised their target price on Navan from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 11th. Finally, TD Cowen lifted their target price on Navan from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.64.

Hedge Funds Weigh In On Navan

Several institutional investors and hedge funds have recently bought and sold shares of NAVN. CTC Alternative Strategies Ltd. purchased a new stake in Navan in the first quarter worth $177,000. Bank of America Corp DE raised its stake in shares of Navan by 733.7% in the first quarter. Bank of America Corp DE now owns 210,524 shares of the company’s stock valued at $2,787,000 after buying an additional 185,271 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Navan during the 1st quarter valued at $367,000. Sunbelt Securities Inc. purchased a new position in shares of Navan during the 1st quarter valued at $71,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Navan by 160.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 38,212 shares of the company’s stock worth $506,000 after acquiring an additional 23,534 shares during the period.

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.