Navan (NASDAQ:NAVN) Shares Gap Down – Time to Sell?

Navan, Inc. (NASDAQ:NAVN)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $24.25, but opened at $23.61. Navan shares last traded at $24.35, with a volume of 334,060 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NAVN. Citizens Jmp raised their price target on Navan from $31.00 to $38.00 and gave the stock a “market outperform” rating in a report on Thursday, June 11th. BTIG Research raised their target price on Navan from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Rosenblatt Securities boosted their price target on shares of Navan from $20.00 to $24.00 and gave the company a “buy” rating in a report on Monday, June 8th. Morgan Stanley upped their price target on shares of Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Finally, Citigroup reiterated an “outperform” rating on shares of Navan in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.64.

Navan Trading Up 2.6%

The firm has a 50-day moving average of $19.79 and a 200 day moving average of $15.19. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $6.33 billion and a price-to-earnings ratio of -11.57.

Navan (NASDAQ:NAVN) last announced its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.20. The business had revenue of $220.23 million for the quarter. The firm’s revenue for the quarter was up 39.8% on a year-over-year basis. As a group, equities analysts predict that Navan, Inc. will post -0.37 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ariel M. Cohen sold 41,530 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 value of $874,621.80. Following the completion of the transaction, the chief executive officer owned 1,254,731 shares in the company, valued at $26,424,634.86. This represents a 3.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Ilan Ezra Twig sold 24,726 shares of the firm’s 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 transaction, the chief technology officer directly owned 805,860 shares in the company, valued at approximately $16,971,411.60. The trade was a 2.98% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 5,119,601 shares of company stock valued at $102,379,085. Corporate insiders own 63.39% of the company’s stock.

Institutional Inflows and Outflows

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

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.