Ilan Ezra Twig Sells 36,040 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) CTO Ilan Twig sold 36,040 shares of Navan stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $21.27, for a total transaction of $766,570.80. Following the sale, the chief technology officer owned 769,820 shares of the company’s stock, valued at approximately $16,374,071.40. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Navan Price Performance

NAVN traded down $1.31 during mid-day trading on Wednesday, hitting $19.66. 4,543,238 shares of the stock were exchanged, compared to its average volume of 4,724,609. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.38 and a quick ratio of 4.38. The firm’s fifty day moving average is $26.33 and its two-hundred day moving average is $20.64. Navan, Inc. has a 1-year low of $8.10 and a 1-year high of $30.88.

Navan (NASDAQ:NAVN) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.17. The business had revenue of $232.79 million for the quarter. Navan had a negative return on equity of 13.91% and a negative net margin of 42.11%.The company’s quarterly revenue was up 35.4% compared to the same quarter last year. As a group, sell-side analysts expect that Navan, Inc. will post -0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

NAVN has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on Navan from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Citigroup restated an “outperform” rating on shares of Navan in a research note on Thursday, June 11th. BMO Capital Markets increased their price objective on Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. The Goldman Sachs Group raised Navan from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Finally, Bank of America boosted their target price on shares of Navan from $26.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Hedge Funds Weigh In On Navan

A number of hedge funds have recently made changes to their positions in NAVN. Cosmic Management LLC acquired a new stake in Navan during the fourth quarter worth about $121,930,000. Napean Trading & Investment Co Singapore PTE Ltd acquired a new position in Navan in the fourth quarter valued at approximately $100,332,000. Alkeon Capital Management LLC bought a new position in shares of Navan during the fourth quarter valued at approximately $45,891,000. Capital International Investors bought a new stake in shares of Navan in the 4th quarter worth approximately $41,557,000. Finally, Dragoneer Investment Group LLC bought a new position in Navan during the 4th quarter worth $35,791,000.

Navan Company Profile

Navan, Inc is a business travel and expense management technology company. The company provides an integrated platform that helps organizations plan and book business travel, manage travel-related spending, and streamline expense reporting and reimbursement.

Its products and services include corporate travel booking, lodging and transportation reservations, expense management tools, payment and corporate card capabilities, travel policy controls, and reporting solutions. Navan also uses automation and artificial intelligence to assist employees with trip planning and help companies manage travel programs and spending.

The company was founded in 2015 as TripActions by Ariel Cohen and Ilan Twig and later adopted the Navan name as its platform expanded beyond travel booking into broader spend management.