Navan (NASDAQ:NAVN) Shares Gap Down Following Insider Selling

Navan, Inc. (NASDAQ:NAVN) gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $24.25, but opened at $23.61. Navan shares last traded at $24.35, with a volume of 334,060 shares.

Specifically, major shareholder Lightspeed Venture Partners Se sold 10,569 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.65, for a total transaction of $260,525.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

Several equities research analysts recently commented on NAVN shares. BTIG Research boosted their price target on shares of Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Weiss Ratings raised shares of Navan from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, June 12th. Jefferies Financial Group lifted their target price on shares of Navan from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Citigroup reissued an “outperform” rating on shares of Navan in a research note on Thursday, June 11th. Finally, Mizuho upped their price target on shares of Navan from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Navan currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.64.

Navan Stock Performance

The company has a 50 day moving average of $20.20 and a 200 day moving average of $15.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31. The stock has a market capitalization of $6.53 billion and a price-to-earnings ratio of -11.94.

Navan (NASDAQ:NAVN) last announced its quarterly earnings data 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 during the quarter. The business’s revenue for the quarter was up 39.8% on a year-over-year basis. On average, research analysts predict that Navan, Inc. will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Navan

A number of hedge funds have recently modified their holdings of NAVN. Lightspeed Management Company L.L.C. acquired a new position in Navan during the fourth quarter worth about $852,658,000. a16z Capital Management L.L.C. purchased a new stake in Navan during the 4th quarter valued at about $464,497,000. Greenoaks Capital Partners LLC acquired a new stake in Navan in the 4th quarter valued at about $274,088,000. Cosmic Management LLC acquired a new stake in Navan in the 4th quarter valued at about $121,930,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd purchased a new position in Navan in the 4th quarter worth approximately $100,332,000.

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.