Navan, Inc. (NASDAQ:NAVN – Get Free Report) major shareholder Lightspeed Venture Partners Se sold 398,546 shares of Navan stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $19.13, for a total transaction of $7,624,184.98. Following the sale, the insider owned 2,358,312 shares of the company’s stock, valued at approximately $45,114,508.56. This represents a 14.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 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 Monday, June 15th, Lightspeed Venture Partners Se sold 1,004,231 shares of Navan stock. The stock was sold at an average price of $20.37, for a total transaction of $20,456,185.47.
- On Friday, June 12th, Lightspeed Venture Partners Se sold 1,019,900 shares of Navan stock. The shares were sold at an average price of $20.00, for a total transaction of $20,398,000.00.
Navan Trading Up 4.4%
NASDAQ NAVN traded up $0.92 on Thursday, reaching $21.91. The stock had a trading volume of 6,338,613 shares, compared to its average volume of 3,031,106. The firm has a market capitalization of $5.49 billion and a price-to-earnings ratio of -10.19. 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 12-month low of $8.10 and a 12-month high of $24.50. The stock has a fifty day moving average price of $18.06 and a two-hundred day moving average price of $14.66.
Institutional Trading of Navan
A number of large investors have recently made changes to their positions in NAVN. Royal Bank of Canada acquired a new position in shares of Navan in the 4th quarter valued at $35,000. California State Teachers Retirement System purchased a new position in Navan during the 4th quarter worth $39,000. Russell Investments Group Ltd. purchased a new position in Navan during the 4th quarter worth $51,000. Sunbelt Securities Inc. acquired a new position in Navan in the first quarter valued at $71,000. Finally, New York State Common Retirement Fund acquired a new position in Navan in the fourth quarter valued at $101,000.
Wall Street Analyst Weigh In
NAVN has been the subject of a number of research analyst reports. BMO Capital Markets raised their target price on Navan from $22.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. BTIG Research increased their price target on shares of Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Needham & Company LLC raised their price objective on shares of Navan from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Rosenblatt Securities lifted their price objective on shares of Navan from $20.00 to $24.00 and gave the company a “buy” rating in a report on Monday, June 8th. Finally, Morgan Stanley upped their target price on shares of Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Navan presently has an average rating of “Moderate Buy” and a consensus price target of $28.64.
Read Our Latest Analysis on NAVN
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.
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