Wellington Management Group LLP Sells 1,966,632 Shares of Navan, Inc. $NAVN

Wellington Management Group LLP trimmed its position in Navan, Inc. (NASDAQ:NAVN) by 37.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,276,813 shares of the company’s stock after selling 1,966,632 shares during the period. Wellington Management Group LLP owned approximately 1.29% of Navan worth $74,941,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its stake in Navan by 23.2% in the second quarter. Versant Capital Management Inc now owns 5,785 shares of the company’s stock valued at $132,000 after buying an additional 1,091 shares in the last quarter. Royal Bank of Canada acquired a new position in Navan during the fourth quarter valued at approximately $35,000. California State Teachers Retirement System acquired a new stake in shares of Navan in the 4th quarter valued at approximately $39,000. Russell Investments Group Ltd. bought a new position in shares of Navan in the 4th quarter valued at about $51,000. Finally, Sunbelt Securities Inc. bought a new position in Navan during the first quarter worth about $71,000.

Insider Transactions at Navan

In related news, Director Arif Janmohamed sold 1,019,900 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $20.00, for a total value of $20,398,000.00. Following the transaction, the director directly owned 3,761,089 shares in the company, valued at $75,221,780. This trade represents a 21.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Lightspeed Venture Partners Se sold 1,019,900 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $20.00, for a total transaction of $20,398,000.00. Following the completion of the transaction, the insider directly owned 3,761,089 shares in the company, valued at $75,221,780. This trade represents a 21.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,481,362 shares of company stock valued at $113,690,219 over the last ninety days. 63.39% of the stock is owned by company insiders.

Navan Trading Down 1.5%

NASDAQ NAVN opened at $26.90 on Thursday. The business has a 50 day simple moving average of $26.84 and a 200 day simple moving average of $19.25. The stock has a market capitalization of $6.84 billion and a P/E ratio of -12.51. 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 $30.88.

Navan (NASDAQ:NAVN) last released its earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share (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 business’s quarterly revenue was up 39.8% on a year-over-year basis. Research analysts expect that Navan, Inc. will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. TD Cowen lifted their price objective on shares of Navan from $29.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Weiss Ratings raised Navan from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, June 12th. BTIG Research raised their target price on shares of Navan from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, June 11th. BMO Capital Markets lifted their price target on Navan from $22.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Finally, Rosenblatt Securities upped their price objective on shares of Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat, Navan has a consensus rating of “Moderate Buy” and an average price target of $30.36.

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.