Insider Buying: Navan (NASDAQ:NAVN) Director Buys $3,197,036.33 in Stock

Navan, Inc. (NASDAQ:NAVN) Director Benjamin Horowitz acquired 202,729 shares of Navan stock in a transaction that occurred on Monday, January 5th. The stock was purchased at an average price of $15.77 per share, with a total value of $3,197,036.33. Following the transaction, the director owned 7,992,267 shares of the company’s stock, valued at $126,038,050.59. This trade represents a 2.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Navan Trading Down 0.9%

NASDAQ NAVN opened at $17.89 on Friday. The company has a market cap of $4.45 billion and a price-to-earnings ratio of -9.13. Navan, Inc. has a 12-month low of $11.76 and a 12-month high of $22.75. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.49 and a current ratio of 4.49.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating on shares of Navan in a research report on Monday, December 15th. BNP Paribas Exane began coverage on shares of Navan in a research note on Monday, November 24th. They set an “outperform” rating and a $24.00 price target on the stock. Citigroup initiated coverage on shares of Navan in a report on Monday, November 24th. They issued a “buy” rating and a $26.00 price target for the company. Citizens Jmp reissued a “market outperform” rating and set a $25.00 price objective on shares of Navan in a report on Tuesday, December 23rd. Finally, Morgan Stanley restated an “overweight” rating and set a $20.00 target price on shares of Navan in a research report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Navan currently has an average rating of “Buy” and an average target price of $24.92.

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.