Benjamin Horowitz Buys 347,600 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) Director Benjamin Horowitz acquired 347,600 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was purchased at an average price of $12.65 per share, with a total value of $4,397,140.00. Following the completion of the transaction, the director directly owned 5,922,151 shares of the company’s stock, valued at $74,915,210.15. This trade represents a 6.24% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Navan Trading Up 9.7%

NAVN stock traded up $1.34 during midday trading on Friday, hitting $15.11. The company had a trading volume of 10,653,071 shares, compared to its average volume of 1,501,196. Navan, Inc. has a 52 week low of $11.76 and a 52 week high of $22.75.

Navan (NASDAQ:NAVN) last issued its quarterly earnings data on Monday, December 15th. The company reported ($4.58) EPS for the quarter.

Wall Street Analyst Weigh In

NAVN has been the subject of a number of research reports. Rosenblatt Securities restated a “buy” rating and set a $30.00 target price on shares of Navan in a research report on Friday, December 12th. Wall Street Zen raised shares of Navan to a “hold” rating in a research note on Friday, November 21st. BTIG Research began coverage on Navan in a research note on Monday, November 24th. They set a “buy” rating and a $26.00 price target on the stock. BNP Paribas Exane began coverage on shares of Navan in a research report on Monday, November 24th. They set an “outperform” rating and a $24.00 price target for the company. Finally, Morgan Stanley reissued an “overweight” rating and set a $20.00 price objective on shares of Navan in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company. According to MarketBeat, Navan currently has a consensus rating of “Buy” and an average target price of $24.92.

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.