Navan (NASDAQ:NAVN) Major Shareholder Lightspeed Venture Partners Se Sells 1,004,231 Shares

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 1,004,231 shares of Navan stock in a transaction on Monday, June 15th. The stock was sold at an average price of $20.37, for a total transaction of $20,456,185.47. Following the transaction, the insider directly owned 2,756,858 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, June 12th, Lightspeed Venture Partners Se sold 1,019,900 shares of Navan stock. The stock was sold at an average price of $20.00, for a total transaction of $20,398,000.00.

Navan Stock Up 0.9%

NASDAQ:NAVN opened at $20.10 on Tuesday. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $24.50. The company has a market cap of $5.04 billion and a price-to-earnings ratio of -9.62. The stock has a fifty day simple moving average of $17.75 and a 200-day simple moving average of $14.60. 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 (NASDAQ:NAVN) last released its earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.20. The business 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. Analysts anticipate that Navan, Inc. will post -0.33 EPS for the current year.

Analyst Upgrades and Downgrades

NAVN has been the subject of several research analyst reports. Needham & Company LLC lifted 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. Jefferies Financial Group lifted their target price on Navan from $18.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings upgraded Navan from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday. BMO Capital Markets lifted their target price on Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. Finally, Rosenblatt Securities lifted 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. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.64.

Institutional Trading of Navan

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

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.