Navan (NASDAQ:NAVN) Director Arif Janmohamed Sells 1,004,231 Shares

Navan, Inc. (NASDAQ:NAVN) Director Arif Janmohamed sold 1,004,231 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $20.37, for a total transaction of $20,456,185.47. Following the transaction, the director directly owned 2,756,858 shares in the company, valued at $56,157,197.46. The trade was a 26.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arif Janmohamed also recently made the following trade(s):

• On Friday, June 12th, Arif Janmohamed sold 1,019,900 shares of Navan stock. The shares were sold at an average price of $20.00, for a total transaction of $20,398,000.00.

Navan Stock Up 0.9%

NAVN opened at $20.10 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.31 and a quick ratio of 4.31. The company’s 50-day moving average is $17.75 and its 200 day moving average is $14.60. Navan, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $24.50. The firm has a market capitalization of $5.04 billion and a P/E ratio of -9.62.

Navan (NASDAQ:NAVN) last released its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.20. The firm had revenue of $220.23 million for the quarter. The business’s revenue for the quarter was up 39.8% compared to the same quarter last year. Research analysts expect that Navan, Inc. will post -0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on NAVN. BMO Capital Markets raised their price objective on shares of Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Rosenblatt Securities raised their price objective on shares of Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, June 8th. TD Cowen raised their price objective on shares of Navan from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group upgraded shares of Navan from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Finally, Citizens Jmp raised their price objective on shares of Navan from $31.00 to $38.00 and gave the stock a “market outperform” rating in a report on Thursday, June 11th. 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 given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $28.64.

Institutional Trading of Navan

A number of large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada purchased a new position in shares of Navan in the fourth quarter worth about $35,000. California State Teachers Retirement System purchased a new position in shares of Navan in the fourth quarter worth about $39,000. Russell Investments Group Ltd. purchased a new position in shares of Navan in the fourth quarter worth about $51,000. Sunbelt Securities Inc. purchased a new position in shares of Navan in the first quarter worth about $71,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Navan in the fourth quarter worth about $101,000.

Navan Company Profile

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.