Michael Eric Sindicich Sells 9,349 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVNGet Free Report) President Michael Eric Sindicich sold 9,349 shares of the business’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $13.86, for a total value of $129,577.14. Following the completion of the transaction, the president owned 310,514 shares of the company’s stock, valued at $4,303,724.04. This trade represents a 2.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Navan Trading Down 9.3%

NASDAQ NAVN opened at $11.48 on Friday. Navan, Inc. has a twelve month low of $11.40 and a twelve month high of $22.75. The stock’s 50-day simple moving average is $15.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.49 and a quick ratio of 4.49. The stock has a market capitalization of $2.85 billion and a P/E ratio of -5.86.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NAVN. The Goldman Sachs Group cut their price target on shares of Navan from $30.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday. BTIG Research initiated coverage on Navan in a report on Monday, November 24th. They set a “buy” rating and a $26.00 price objective for the company. Loop Capital upgraded Navan to a “strong-buy” rating in a report on Monday, November 24th. Oppenheimer began coverage on Navan in a research note on Monday, November 24th. They set an “outperform” rating and a $25.00 price target for the company. Finally, Morgan Stanley restated an “overweight” rating and issued a $20.00 price objective on shares of Navan in a report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.42.

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Institutional Investors Weigh In On Navan

Institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC acquired a new stake in shares of Navan in the fourth quarter valued at about $31,195,000. UBS Group AG acquired a new stake in Navan in the fourth quarter valued at approximately $9,125,000. Teachers Retirement System of The State of Kentucky acquired a new stake in Navan in the fourth quarter valued at approximately $223,000. Vanguard Group Inc. purchased a new stake in shares of Navan during the fourth quarter valued at approximately $56,848,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Navan during the fourth quarter worth $8,540,000.

Navan Company Profile

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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.

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