Navan (NASDAQ:NAVN) Shares Gap Down – Here’s Why

Navan, Inc. (NASDAQ:NAVN) shares gapped down prior to trading on Wednesday . The stock had previously closed at $27.25, but opened at $25.50. Navan shares last traded at $25.5580, with a volume of 845,902 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Mizuho upped their price objective on shares of Navan from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. Citizens Jmp boosted their target price on shares of Navan from $31.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Thursday, June 11th. Weiss Ratings upgraded shares of Navan from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, June 12th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of Navan in a research note on Monday, June 22nd. Finally, Citigroup reissued an “outperform” rating on shares of Navan in a report 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.64.

Navan Trading Down 8.5%

The company has a debt-to-equity ratio of 0.10, a current ratio of 4.31 and a quick ratio of 4.31. The company has a market cap of $6.34 billion and a price-to-earnings ratio of -11.60. The business’s fifty day moving average price is $20.65 and its 200 day moving average price is $15.54.

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

Insiders Place Their Bets

In other news, President Michael Eric Sindicich sold 2,176 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $21.06, for a total value of $45,826.56. Following the sale, the president directly owned 548,318 shares of the company’s stock, valued at approximately $11,547,577.08. This represents a 0.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Arif Janmohamed sold 77,323 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $19.06, for a total transaction of $1,473,776.38. Following the sale, the director owned 2,280,989 shares of the company’s stock, valued at approximately $43,475,650.34. This trade represents a 3.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 5,130,170 shares of company stock valued at $102,639,611 over the last three months. Insiders own 63.39% of the company’s stock.

Institutional Trading of Navan

A number of large investors have recently bought and sold shares of NAVN. Royal Bank of Canada acquired a new position in shares of Navan in the 4th quarter valued at about $35,000. California State Teachers Retirement System bought a new position in Navan during the fourth quarter worth $39,000. Russell Investments Group Ltd. acquired a new stake in Navan in the fourth quarter worth $51,000. Sunbelt Securities Inc. acquired a new stake in Navan in the first quarter worth $71,000. Finally, Versant Capital Management Inc increased its stake in Navan by 23.2% in the second quarter. Versant Capital Management Inc now owns 5,785 shares of the company’s stock valued at $132,000 after purchasing an additional 1,091 shares in the last quarter.

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.