Navan (NASDAQ:NAVN) Shares Down 4.9% – Here’s What Happened

Navan, Inc. (NASDAQ:NAVN)’s stock price fell 4.9% during mid-day trading on Tuesday . The stock traded as low as $26.63 and last traded at $26.3730. 548,953 shares changed hands during trading, a decline of 83% from the average daily volume of 3,307,711 shares. The stock had previously closed at $27.73.

Wall Street Analysts Forecast Growth

NAVN has been the subject of several research analyst reports. BNP Paribas Exane increased their price objective on shares of Navan from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price target on shares of Navan in a report on Monday, June 22nd. Citizens Jmp lifted their price objective 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. TD Cowen boosted their price objective on shares of Navan from $28.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Finally, Jefferies Financial Group lifted their price target on Navan from $18.00 to $26.00 and gave the stock a “buy” rating 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.07.

Navan Stock Down 11.6%

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 business’s 50-day simple moving average is $22.42 and its 200-day simple moving average is $16.30. The company has a market capitalization of $5.99 billion and a PE ratio of -10.95.

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

Insider Buying and Selling

In other Navan news, major shareholder Lightspeed Venture Partners Se sold 8,983 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $25.36, for a total transaction of $227,808.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Arif Janmohamed sold 77,323 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was 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 owned 2,280,989 shares in the company, valued at $43,475,650.34. The trade was a 3.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 5,139,153 shares of company stock valued at $102,867,420 in the last 90 days. 63.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NAVN. Royal Bank of Canada purchased a new stake in shares of Navan during the 4th quarter worth about $35,000. California State Teachers Retirement System purchased a new position in shares of Navan in the 4th quarter valued at about $39,000. Russell Investments Group Ltd. acquired a new position in Navan in the 4th quarter worth about $51,000. Sunbelt Securities Inc. purchased a new position in Navan during the first quarter worth approximately $71,000. Finally, New York State Common Retirement Fund acquired a new stake in Navan in the fourth quarter valued at approximately $101,000.

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.