Insider Selling: Navan (NASDAQ:NAVN) President Sells $45,826.56 in Stock

Navan, Inc. (NASDAQ:NAVN) President Michael Eric Sindicich sold 2,176 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $21.06, for a total value of $45,826.56. Following the sale, the president directly owned 548,318 shares in the company, valued at $11,547,577.08. This trade represents a 0.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michael Eric Sindicich also recently made the following trade(s):

• On Thursday, May 28th, Michael Eric Sindicich sold 51,169 shares of Navan stock. The stock was sold at an average price of $20.20, for a total value of $1,033,613.80.

Navan Stock Down 1.8%

NAVN traded down $0.38 on Tuesday, reaching $21.28. The company’s stock had a trading volume of 4,326,537 shares, compared to its average volume of 3,054,333. The company has a market capitalization of $5.41 billion and a price-to-earnings ratio of -9.90. Navan, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $24.50. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average of $18.61 and a two-hundred day moving average of $14.78.

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 analysts’ consensus estimates of ($0.12) by $0.20. The company had revenue of $220.23 million for the quarter. The business’s revenue was up 39.8% on a year-over-year basis. As a group, analysts forecast that Navan, Inc. will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Navan

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

Analysts Set New Price Targets

NAVN has been the subject of a number of research reports. BMO Capital Markets boosted their price target on shares of Navan from $22.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 11th. Weiss Ratings raised Navan from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, June 12th. Jefferies Financial Group boosted their target price on Navan from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Oppenheimer set a $30.00 target price on Navan in a research report on Thursday, June 11th. Finally, Rosenblatt Securities raised their price target on Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. One equities research 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.64.

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.