Insider Selling: Navan (NASDAQ:NAVN) CTO Sells $766,570.80 in Stock

Navan, Inc. (NASDAQ:NAVN) CTO Ilan Twig sold 36,040 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $21.27, for a total transaction of $766,570.80. Following the completion of the sale, the chief technology officer owned 769,820 shares of the company’s stock, valued at approximately $16,374,071.40. The trade was a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Navan Trading Down 0.1%

Shares of Navan stock opened at $19.42 on Friday. The stock has a market cap of $5.06 billion and a P/E ratio of -3.84. The stock’s 50 day simple moving average is $26.07 and its 200-day simple moving average is $20.70. Navan, Inc. has a 1-year low of $8.10 and a 1-year high of $30.88. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.38 and a quick ratio of 4.38.

Navan (NASDAQ:NAVN) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.17. Navan had a negative return on equity of 13.91% and a negative net margin of 42.11%.The firm had revenue of $232.79 million during the quarter. The firm’s revenue was up 35.4% compared to the same quarter last year. Analysts predict that Navan, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NAVN. BNP Paribas Exane boosted their price target on shares of Navan from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Rosenblatt Securities boosted their target price on shares of Navan from $27.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, September 10th. BMO Capital Markets raised their price target on shares of Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Bank of America upped their price objective on Navan from $26.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Finally, Weiss Ratings cut Navan from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Navan currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Institutional Trading of Navan

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Navan during the second quarter worth about $25,000. Orion Capital Management LLC purchased a new position in Navan in the 2nd quarter valued at approximately $54,000. Sunbelt Securities Inc. acquired a new position in shares of Navan during the 1st quarter worth $71,000. EMC Capital Management acquired a new stake in shares of Navan in the second quarter valued at approximately $114,000. Finally, Versant Capital Management Inc grew its holdings in Navan by 23.2% during the 2nd 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 during the last quarter.

Navan Company Profile

Navan, Inc is a business travel and expense management technology company. The company provides an integrated platform that helps organizations plan and book business travel, manage travel-related spending, and streamline expense reporting and reimbursement.

Its products and services include corporate travel booking, lodging and transportation reservations, expense management tools, payment and corporate card capabilities, travel policy controls, and reporting solutions. Navan also uses automation and artificial intelligence to assist employees with trip planning and help companies manage travel programs and spending.

The company was founded in 2015 as TripActions by Ariel Cohen and Ilan Twig and later adopted the Navan name as its platform expanded beyond travel booking into broader spend management.