Handelsbanken Fonder AB Invests $579,000 in Navan, Inc. $NAVN

Handelsbanken Fonder AB bought a new position in Navan, Inc. (NASDAQ:NAVN) during the second quarter, according to its most recent filing with the SEC. The firm bought 25,300 shares of the company’s stock, valued at approximately $579,000.

Other hedge funds have also bought and sold shares of the company. Royal Bank of Canada bought a new stake in Navan during the 4th quarter valued at $35,000. California State Teachers Retirement System bought a new position in shares of Navan in the fourth quarter valued at $39,000. Russell Investments Group Ltd. bought a new position in shares of Navan in the fourth quarter valued at $51,000. Sunbelt Securities Inc. acquired a new position in shares of Navan during the first quarter valued at about $71,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Navan during the fourth quarter valued at about $101,000.

Navan Price Performance

Navan stock opened at $28.56 on Friday. Navan, Inc. has a 52 week low of $8.10 and a 52 week high of $29.99. The company’s 50 day moving average price is $25.42 and its two-hundred day moving average price is $18.09. The stock has a market cap of $7.26 billion and a P/E ratio of -13.28. 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 (NASDAQ:NAVN) last released its earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.20. The business had revenue of $220.23 million during the quarter. Navan’s revenue for the quarter was up 39.8% compared to the same quarter last year. On average, equities analysts predict that Navan, Inc. will post -0.37 earnings per share for the current year.

Analyst Ratings Changes

NAVN has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of Navan in a report on Monday, June 22nd. Oppenheimer set a $30.00 price target on Navan in a research note on Thursday, June 11th. Jefferies Financial Group boosted their price objective on Navan from $18.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. BTIG Research increased their price objective on Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group upgraded Navan from a “buy” rating to a “buy” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.43.

Insiders Place Their Bets

In other Navan news, major shareholder Lightspeed Venture Partners Se sold 1,019,900 shares of the company’s 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 completion of the transaction, the insider owned 3,761,089 shares in the company, valued at $75,221,780. This represents a 21.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael Eric Sindicich sold 51,169 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $20.20, for a total value of $1,033,613.80. Following the sale, the president directly owned 549,251 shares of the company’s stock, valued at approximately $11,094,870.20. This represents a 8.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,139,153 shares of company stock worth $102,867,420 over the last 90 days. Company insiders own 63.39% of the company’s stock.

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.