Lightspeed Venture Partners Se Sells 398,546 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVNGet Free Report) major shareholder Lightspeed Venture Partners Se sold 398,546 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $19.13, for a total transaction of $7,624,184.98. Following the completion of the sale, the insider directly owned 2,358,312 shares of the company’s stock, valued at $45,114,508.56. The trade was a 14.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more 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 Wednesday, June 17th, Lightspeed Venture Partners Se sold 77,323 shares of Navan stock. The shares were sold at an average price of $19.06, for a total transaction of $1,473,776.38.
  • 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 stock was sold at an average price of $20.00, for a total transaction of $20,398,000.00.

Navan Stock Performance

Shares of NASDAQ:NAVN opened at $21.91 on Friday. The company has a 50 day moving average of $18.43 and a 200-day moving average of $14.74. The firm has a market cap of $5.57 billion and a P/E ratio of -10.19. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $24.50. 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:NAVNGet Free Report) last posted its quarterly earnings data on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.20. The company had revenue of $220.23 million for the quarter. The company’s revenue for the quarter was up 39.8% on a year-over-year basis. As a group, analysts anticipate that Navan, Inc. will post -0.37 earnings per share for the current fiscal year.

Key Headlines Impacting Navan

Here are the key news stories impacting Navan this week:

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NAVN. Rosenblatt Securities boosted their price objective on Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. BMO Capital Markets raised their target price on Navan from $22.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Bank of America lifted their target price on Navan from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Oppenheimer set a $30.00 price target on shares of Navan in a research report on Thursday, June 11th. Finally, Weiss Ratings raised shares of Navan from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.64.

Check Out Our Latest Stock Report on Navan

Institutional Trading of Navan

Institutional investors and hedge funds have recently bought and sold shares of the stock. Napean Trading & Investment Co Singapore PTE Ltd acquired a new position in shares of Navan in the fourth quarter worth about $100,332,000. Dragoneer Investment Group LLC purchased a new position in shares of Navan in the fourth quarter worth approximately $35,791,000. Teacher Retirement System of Texas acquired a new stake in shares of Navan during the fourth quarter valued at approximately $8,540,000. Alkeon Capital Management LLC acquired a new stake in shares of Navan during the fourth quarter valued at approximately $45,891,000. Finally, Lunate Capital Ltd purchased a new stake in shares of Navan in the 4th quarter valued at approximately $3,416,000.

Navan Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Navan (NASDAQ:NAVN)

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