Insider Selling: Navan (NASDAQ:NAVN) Major Shareholder Sells $227,808.88 in Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 8,983 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $25.36, for a total value of $227,808.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Lightspeed Venture Partners Se also recently made the following trade(s):

• On Wednesday, July 1st, Lightspeed Venture Partners Se sold 10,569 shares of Navan stock. The shares were sold at an average price of $24.65, for a total transaction of $260,525.85.
• On Wednesday, June 17th, Lightspeed Venture Partners Se sold 77,323 shares of Navan stock. The stock was sold at an average price of $19.06, for a total transaction of $1,473,776.38.
• On Tuesday, June 16th, Lightspeed Venture Partners Se sold 398,546 shares of Navan stock. The stock was sold at an average price of $19.13, for a total transaction of $7,624,184.98.
• On Monday, June 15th, Lightspeed Venture Partners Se sold 1,004,231 shares of Navan stock. The shares were sold at an average price of $20.37, for a total transaction of $20,456,185.47.
• On Friday, June 12th, Lightspeed Venture Partners Se 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 Performance

Shares of NAVN traded up $0.29 during mid-day trading on Friday, hitting $25.92. 3,535,590 shares of the company’s stock were exchanged, compared to its average volume of 5,449,628. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10. Navan, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $28.22. The business’s 50 day moving average is $21.20 and its two-hundred day moving average is $15.77. The firm has a market capitalization of $6.59 billion and a P/E ratio of -12.06.

Navan (NASDAQ:NAVN) last posted its quarterly earnings data on Wednesday, June 10th. The company reported $0.08 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. The firm’s quarterly revenue was up 39.8% compared to the same quarter last year. On average, equities analysts expect that Navan, Inc. will post -0.37 earnings per share for the current year.

Institutional Investors Weigh In On Navan

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective on shares of Navan in a research note on Monday, June 22nd. Oppenheimer set a $30.00 target price on shares of Navan in a report on Thursday, June 11th. Bank of America boosted their price target on shares of Navan from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Morgan Stanley increased their price target on shares of Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Finally, TD Cowen raised their price objective on shares of Navan from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.64.

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.