Navan (NASDAQ:NAVN) CEO Sells 225,000 Shares of Stock

Navan, Inc. (NASDAQ:NAVN) CEO Ariel Cohen sold 225,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $30.14, for a total transaction of $6,781,500.00. Following the completion of the sale, the chief executive officer owned 1,086,242 shares of the company’s stock, valued at approximately $32,739,333.88. This trade represents a 17.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Navan Stock Performance

NAVN traded up $0.56 during trading on Monday, reaching $29.06. 3,495,879 shares of the company’s stock were exchanged, compared to its average volume of 3,169,996. 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 1 year low of $8.10 and a 1 year high of $30.88. The company’s fifty day simple moving average is $26.47 and its 200-day simple moving average is $18.89. The stock has a market capitalization of $7.39 billion and a P/E ratio of -13.52.

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

Hedge Funds Weigh In On Navan

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada purchased a new stake in Navan during the fourth quarter worth about $35,000. California State Teachers Retirement System acquired a new stake in shares of Navan during the 4th quarter valued at approximately $39,000. Russell Investments Group Ltd. acquired a new stake in shares of Navan during the 4th quarter valued at approximately $51,000. Orion Capital Management LLC purchased a new stake in shares of Navan during the 2nd quarter worth approximately $54,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Navan in the 1st quarter worth approximately $71,000.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Navan from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. BTIG Research boosted their price target on shares of Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. TD Cowen increased their price objective on shares of Navan from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Jefferies Financial Group raised their price objective on shares of Navan from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Finally, Mizuho lifted 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. One 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 issued a Sell rating to the company’s stock. According to MarketBeat, Navan currently has an average rating of “Moderate Buy” and an average price target of $29.79.

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.