Navan (NASDAQ:NAVN) CTO Sells $520,729.56 in Stock

Navan, Inc. (NASDAQ:NAVN) CTO Ilan Ezra Twig sold 24,726 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $21.06, for a total transaction of $520,729.56. Following the sale, the chief technology officer directly owned 805,860 shares of the company’s stock, valued at approximately $16,971,411.60. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Navan Stock Down 0.9%

Shares of Navan stock opened at $21.59 on Friday. The firm’s 50 day moving average price is $19.11 and its 200-day moving average price is $14.92. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.10. Navan, Inc. has a 52-week low of $8.10 and a 52-week high of $24.50. The company has a market cap of $5.49 billion and a P/E ratio of -10.04.

Navan (NASDAQ:NAVN) last posted its earnings results on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.20. The firm had revenue of $220.23 million for the quarter. Navan’s revenue was up 39.8% on a year-over-year basis. On average, sell-side analysts predict that Navan, Inc. will post -0.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NAVN. BMO Capital Markets raised their price objective on Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. Citigroup reissued an “outperform” rating on shares of Navan in a report on Thursday, June 11th. Morgan Stanley upped their price objective on shares of Navan from $25.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Rosenblatt Securities lifted their target price on shares of Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $30.00 target price on shares of Navan in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.64.

Institutional Investors Weigh In On Navan

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Navan during the 4th quarter worth about $270,000. FNY Investment Advisers LLC acquired a new position in shares of Navan in the 4th quarter valued at about $115,000. Lunate Capital Ltd purchased a new stake in shares of Navan in the fourth quarter worth about $3,416,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Navan during the fourth quarter worth about $256,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Navan during the fourth quarter worth about $257,000.

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.