Insider Selling: Navan (NASDAQ:NAVN) Major Shareholder Sells $260,525.85 in Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 10,569 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $24.65, for a total value of $260,525.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major 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 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 value of $1,473,776.38.
• On Tuesday, June 16th, Lightspeed Venture Partners Se sold 398,546 shares of Navan stock. The shares were sold at an average price of $19.13, for a total value of $7,624,184.98.
• On Monday, June 15th, Lightspeed Venture Partners Se sold 1,004,231 shares of Navan stock. The stock was sold at an average price of $20.37, for a total value 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 value of $20,398,000.00.

Navan Stock Performance

Shares of NAVN stock opened at $25.67 on Friday. The stock has a market cap of $6.53 billion and a PE ratio of -11.94. The stock has a 50-day moving average of $20.20 and a 200-day moving average of $15.34. 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 one year low of $8.10 and a one year high of $25.86.

Navan (NASDAQ:NAVN) last released its quarterly earnings data 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 business’s revenue for the quarter was up 39.8% on a year-over-year basis. As a group, sell-side analysts expect that Navan, Inc. will post -0.37 earnings per share for the current year.

Institutional Trading of Navan

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its position in shares of Navan by 23.2% in the second quarter. Versant Capital Management Inc now owns 5,785 shares of the company’s stock worth $132,000 after purchasing an additional 1,091 shares in the last quarter. CTC Alternative Strategies Ltd. acquired a new stake in Navan in the 1st quarter valued at $177,000. Bank of America Corp DE increased its stake in Navan by 733.7% in the 1st quarter. Bank of America Corp DE now owns 210,524 shares of the company’s stock valued at $2,787,000 after buying an additional 185,271 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Navan during the 1st quarter worth about $367,000. Finally, Sunbelt Securities Inc. bought a new stake in Navan during the 1st quarter worth about $71,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Oppenheimer set a $30.00 price objective on shares of Navan in a research report on Thursday, June 11th. Weiss Ratings raised Navan from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, June 12th. Jefferies Financial Group increased their price target on Navan from $18.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Morgan Stanley raised their price target on Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Finally, BMO Capital Markets lifted their price objective on Navan from $22.00 to $30.00 and gave the company an “outperform” rating in a 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 assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Navan has an average rating of “Moderate Buy” and an average price target of $28.64.

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.