Michael Eric Sindicich Sells 2,176 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) President Michael Eric Sindicich sold 2,176 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $21.06, for a total value of $45,826.56. Following the completion of the transaction, the president owned 548,318 shares in the company, valued at $11,547,577.08. This trade represents a 0.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michael Eric Sindicich also recently made the following trade(s):

• On Thursday, May 28th, Michael Eric Sindicich sold 51,169 shares of Navan stock. The stock was sold at an average price of $20.20, for a total transaction of $1,033,613.80.

Navan Trading Up 2.3%

Shares of Navan stock opened at $21.78 on Thursday. The company has a 50-day moving average of $18.95 and a two-hundred day moving average of $14.87. Navan, Inc. has a 12-month low of $8.10 and a 12-month high of $24.50. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10. The stock has a market cap of $5.54 billion and a PE ratio of -10.13.

Navan (NASDAQ:NAVN) last announced its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, topping the consensus estimate 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% on a year-over-year basis. On average, research analysts anticipate that Navan, Inc. will post -0.37 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Bank of America upped their target price on Navan from $20.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Citigroup reiterated an “outperform” rating on shares of Navan in a research report on Thursday, June 11th. Jefferies Financial Group raised their target price on shares of Navan from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Citizens Jmp upped their price target on shares of Navan from $31.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, June 11th. Finally, Oppenheimer set a $30.00 price target on shares of Navan in a research report on Thursday, June 11th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Navan currently has a consensus rating of “Moderate Buy” and an average price target of $28.64.

Institutional Investors Weigh In On Navan

Large investors have recently modified their holdings of the stock. Lightspeed Management Company L.L.C. acquired a new position in shares of Navan in the 4th quarter valued at about $852,658,000. a16z Capital Management L.L.C. bought a new position in Navan in the fourth quarter worth about $464,497,000. Greenoaks Capital Partners LLC acquired a new position in Navan in the fourth quarter valued at approximately $274,088,000. Cosmic Management LLC bought a new position in shares of Navan during the fourth quarter valued at approximately $121,930,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd bought a new position in shares of Navan during the fourth quarter valued at approximately $100,332,000.

About Navan

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.