Insider Selling: Navan (NASDAQ:NAVN) CEO Sells $1,077,261.69 in Stock

Navan, Inc. (NASDAQ:NAVN) CEO Ariel Cohen sold 50,647 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 $1,077,261.69. Following the completion of the transaction, the chief executive officer directly owned 1,035,595 shares of the company’s stock, valued at $22,027,105.65. This trade represents a 4.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Navan Price Performance

Shares of NASDAQ:NAVN opened at $19.42 on Friday. The company has a market cap of $5.06 billion and a PE ratio of -3.84. Navan, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $30.88. The firm has a 50-day simple moving average of $26.07 and a 200 day simple moving average of $20.70. The company has a quick ratio of 4.38, a current ratio of 4.38 and a debt-to-equity ratio of 0.09.

Navan (NASDAQ:NAVN) last issued its earnings results on Wednesday, September 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.17. Navan had a negative net margin of 42.11% and a negative return on equity of 13.91%. The firm had revenue of $232.79 million for the quarter. Navan’s quarterly revenue was up 35.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Navan, Inc. will post -0.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NAVN shares. Mizuho raised their price target on Navan from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Rosenblatt Securities upped their price objective on Navan from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. Citigroup reaffirmed an “outperform” rating on shares of Navan in a research report on Thursday, June 11th. Citizens Jmp reiterated a “market outperform” rating and issued a $38.00 target price on shares of Navan in a research note on Thursday, September 10th. Finally, BMO Capital Markets boosted their price target on shares of Navan from $22.00 to $30.00 and gave the company an “outperform” rating 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Institutional Trading of Navan

Several hedge funds have recently added to or reduced their stakes in the business. Cosmic Management LLC bought a new position in shares of Navan in the fourth quarter worth $121,930,000. Napean Trading & Investment Co Singapore PTE Ltd bought a new stake in shares of Navan during the fourth quarter valued at about $100,332,000. Alkeon Capital Management LLC acquired a new stake in Navan in the fourth quarter worth about $45,891,000. Capital International Investors acquired a new stake in Navan in the fourth quarter worth about $41,557,000. Finally, Dragoneer Investment Group LLC bought a new position in Navan in the 4th quarter valued at about $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.