Navan (NASDAQ:NAVN) Stock Price Up 7.8% on Insider Buying Activity

Navan, Inc. (NASDAQ:NAVN)’s share price traded up 7.8% during mid-day trading on Wednesday following insider buying activity. The stock traded as high as $18.55 and last traded at $18.32. 1,686,132 shares were traded during mid-day trading, a decline of 21% from the average session volume of 2,144,251 shares. The stock had previously closed at $17.00.

Specifically, Director Benjamin A. Horowitz purchased 308,188 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was acquired at an average price of $16.74 per share, with a total value of $5,159,067.12. Following the completion of the acquisition, the director directly owned 8,300,455 shares in the company, valued at approximately $138,949,616.70. This trade represents a 3.86% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Benjamin A. Horowitz acquired 202,729 shares of the company’s stock in a transaction on Monday, January 5th. The shares were purchased at an average cost of $15.77 per share, with a total value of $3,197,036.33. Following the completion of the acquisition, the director directly owned 7,992,267 shares in the company, valued at approximately $126,038,050.59. The trade was a 2.60% increase in their position. The SEC filing for this purchase provides additional information. In related news, Director Benjamin A. Horowitz purchased 466,058 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were bought at an average price of $16.27 per share, with a total value of $7,582,763.66. Following the purchase, the director directly owned 7,789,538 shares in the company, valued at $126,735,783.26. This trade represents a 6.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Navan to a “hold” rating in a report on Friday, November 21st. Oppenheimer assumed coverage on shares of Navan in a research report on Monday, November 24th. They issued an “outperform” rating and a $25.00 price target on the stock. Jefferies Financial Group set a $20.00 price objective on shares of Navan in a report on Tuesday, December 16th. Mizuho initiated coverage on shares of Navan in a research note on Monday, November 24th. They issued an “outperform” rating and a $25.00 target price for the company. Finally, Citigroup assumed coverage on shares of Navan in a research report on Monday, November 24th. They set a “buy” rating and a $26.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $24.92.

Navan Stock Down 0.9%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.49 and a current ratio of 4.49. The company has a market cap of $4.45 billion and a price-to-earnings ratio of -9.13.

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.