Navan (NASDAQ:NAVN) Major Shareholder Lightspeed Venture Partners Se Sells 1,019,900 Shares

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 1,019,900 shares of Navan stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $20.00, for a total value of $20,398,000.00. Following the completion of the sale, the insider owned 3,761,089 shares in the company, valued at approximately $75,221,780. This trade represents a 21.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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 value of $20,456,185.47.

Navan Stock Up 0.9%

Navan stock 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. Navan, Inc. has a 1-year low of $8.10 and a 1-year high of $24.50. The company has a market cap of $5.04 billion and a PE ratio of -9.62. The stock’s 50 day moving average price is $17.75 and its 200 day moving average price is $14.60.

Navan (NASDAQ:NAVN) last posted 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 business had revenue of $220.23 million during the quarter. The company’s quarterly revenue was up 39.8% compared to the same quarter last year. On average, sell-side analysts predict that Navan, Inc. will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Navan

A number of institutional investors have recently made changes to their positions in NAVN. SG Americas Securities LLC acquired a new position in shares of Navan in the fourth quarter worth $270,000. FNY Investment Advisers LLC acquired a new position in shares of Navan in the fourth quarter worth $115,000. Lunate Capital Ltd acquired a new position in shares of Navan in the fourth quarter worth $3,416,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Navan in the fourth quarter worth $256,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Navan in the fourth quarter worth $257,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NAVN shares. Mizuho boosted their target price on Navan from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. Needham & Company LLC boosted their target price on Navan from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Rosenblatt Securities boosted their target price on Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Weiss Ratings upgraded Navan from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday. Finally, Citizens Jmp boosted their target price on Navan from $31.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Thursday, June 11th. One equities research 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.