Ilan Ezra Twig Sells 24,726 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) CTO Ilan Ezra Twig sold 24,726 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $21.06, for a total transaction of $520,729.56. Following the completion of the sale, the chief technology officer directly owned 805,860 shares in the company, valued at $16,971,411.60. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 Stock Performance

NASDAQ:NAVN opened at $21.78 on Thursday. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.10. The company has a market cap of $5.54 billion and a P/E ratio of -10.13. Navan, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $24.50. The firm’s 50 day moving average is $18.95 and its two-hundred day moving average is $14.87.

Navan (NASDAQ:NAVN) last announced its quarterly earnings data on Wednesday, June 10th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.20. The company had revenue of $220.23 million for the quarter. Navan’s revenue was up 39.8% compared to the same quarter last year. Analysts expect that Navan, Inc. will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NAVN. Royal Bank of Canada bought a new stake in shares of Navan in the 4th quarter worth about $35,000. California State Teachers Retirement System bought a new position in shares of Navan during the fourth quarter worth about $39,000. Russell Investments Group Ltd. acquired a new position in Navan in the fourth quarter worth about $51,000. Sunbelt Securities Inc. acquired a new position in Navan in the first quarter worth about $71,000. Finally, New York State Common Retirement Fund bought a new stake in Navan in the fourth quarter valued at about $101,000.

Analysts Set New Price Targets

Several research firms have commented on NAVN. Morgan Stanley raised their price objective on Navan from $25.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Rosenblatt Securities increased their target price on Navan from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Citizens Jmp boosted their price target on Navan from $31.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Thursday, June 11th. Citigroup reaffirmed an “outperform” rating on shares of Navan in a research report on Thursday, June 11th. Finally, BTIG Research lifted their price objective on shares of Navan from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Navan presently has an average rating of “Moderate Buy” and an average price target of $28.64.

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.