Alkeon Capital Management LLC Purchases New Stake in Navan, Inc. $NAVN

Alkeon Capital Management LLC purchased a new stake in Navan, Inc. (NASDAQ:NAVN) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,686,828 shares of the company’s stock, valued at approximately $45,891,000. Alkeon Capital Management LLC owned approximately 1.08% of Navan as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New York State Common Retirement Fund acquired a new position in Navan in the fourth quarter valued at about $101,000. Strs Ohio acquired a new position in Navan in the fourth quarter valued at about $113,000. FNY Investment Advisers LLC acquired a new position in Navan in the fourth quarter valued at about $115,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Navan in the fourth quarter valued at about $165,000. Finally, Verition Fund Management LLC acquired a new position in Navan in the fourth quarter valued at about $205,000.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NAVN. Mizuho boosted their price target on Navan from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Bank of America boosted their price target on Navan from $20.00 to $26.00 and gave the company a “buy” rating in a research note 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 note on Monday, June 8th. 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 note on Thursday, June 11th. Finally, Rosenblatt Securities boosted their target price on Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Navan has a consensus rating of “Moderate Buy” and an average target price of $28.64.

Navan Stock Up 0.9%

Shares of NASDAQ NAVN opened at $20.10 on Tuesday. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10. The company has a market cap of $5.04 billion and a price-to-earnings ratio of -9.62. Navan, Inc. has a 12 month low of $8.10 and a 12 month high of $24.50. The stock has a 50-day moving average price of $17.75 and a two-hundred day moving average price of $14.60.

Navan (NASDAQ:NAVN) last released its quarterly 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 firm had revenue of $220.23 million for the quarter. The company’s revenue was up 39.8% compared to the same quarter last year. As a group, analysts forecast that Navan, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Activity at Navan

In other news, CTO Ilan Ezra Twig sold 49,210 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $8.62, for a total transaction of $424,190.20. Following the sale, the chief technology officer directly owned 538,012 shares in the company, valued at approximately $4,637,663.44. The trade was a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ariel M. Cohen sold 151,007 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $8.62, for a total value of $1,301,680.34. Following the sale, the chief executive officer owned 1,003,918 shares in the company, valued at approximately $8,653,773.16. This trade represents a 13.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 4,301,854 shares of company stock valued at $84,486,871. Corporate insiders own 63.39% of the company’s stock.

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.