Insider Selling: Navan (NASDAQ:NAVN) Major Shareholder Sells 10,569 Shares

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 10,569 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $24.65, for a total transaction of $260,525.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Lightspeed Venture Partners Se also recently made the following trade(s):

• On Wednesday, June 17th, Lightspeed Venture Partners Se sold 77,323 shares of Navan stock. The stock was sold at an average price of $19.06, for a total transaction of $1,473,776.38.
• On Tuesday, June 16th, Lightspeed Venture Partners Se sold 398,546 shares of Navan stock. The shares were sold at an average price of $19.13, for a total transaction of $7,624,184.98.
• On Monday, June 15th, Lightspeed Venture Partners Se sold 1,004,231 shares of Navan stock. The shares were sold at an average price of $20.37, for a total value of $20,456,185.47.
• On Friday, June 12th, Lightspeed Venture Partners Se sold 1,019,900 shares of Navan stock. The stock was sold at an average price of $20.00, for a total value of $20,398,000.00.

Navan Price Performance

Shares of NASDAQ:NAVN traded up $1.42 during mid-day trading on Thursday, reaching $25.67. The stock had a trading volume of 6,415,930 shares, compared to its average volume of 5,706,518. The business’s 50 day moving average price is $20.00 and its 200 day moving average price is $15.27. Navan, Inc. has a 1 year low of $8.10 and a 1 year high of $25.86. The company has a market cap of $6.53 billion and a P/E ratio of -11.94. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10.

Navan (NASDAQ:NAVN) last released its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate 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. Research analysts expect that Navan, Inc. will post -0.37 EPS for the current fiscal year.

Analyst Ratings Changes

NAVN has been the subject of several research reports. BTIG Research increased their price objective on shares of Navan from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. The Goldman Sachs Group upgraded shares of Navan from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Weiss Ratings raised shares of Navan from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, June 12th. Morgan Stanley lifted their price target on Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Finally, TD Cowen upped their price objective on Navan from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. One equities research 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 company. According to data from MarketBeat.com, Navan currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.64.

Institutional Investors Weigh In On Navan

Several institutional investors have recently made changes to their positions in NAVN. Lightspeed Management Company L.L.C. bought a new position in Navan during the 4th quarter valued at about $852,658,000. a16z Capital Management L.L.C. purchased a new position in shares of Navan during the fourth quarter valued at approximately $464,497,000. Greenoaks Capital Partners LLC purchased a new position in shares of Navan during the fourth quarter valued at approximately $274,088,000. Cosmic Management LLC bought a new position in shares of Navan during the fourth quarter valued at approximately $121,930,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd bought a new stake in shares of Navan during the fourth quarter worth $100,332,000.

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.