Weiss Asset Management LP purchased a new position in shares of Navan, Inc. (NASDAQ:NAVN – Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 190,694 shares of the company’s stock, valued at approximately $2,525,000.
A number of other institutional investors also recently modified their holdings of the stock. Royal Bank of Canada bought a new position in shares of Navan in the fourth quarter worth about $35,000. California State Teachers Retirement System bought a new stake in shares of Navan during the fourth quarter valued at approximately $39,000. Russell Investments Group Ltd. acquired a new stake in shares of Navan in the fourth quarter valued at approximately $51,000. New York State Common Retirement Fund acquired a new stake in shares of Navan in the fourth quarter valued at approximately $101,000. Finally, Strs Ohio bought a new position in Navan in the 4th quarter worth approximately $113,000.
Analyst Ratings Changes
NAVN has been the topic of several research reports. BMO Capital Markets upped their price objective on Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Rosenblatt Securities boosted their target price on Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Citizens Jmp upped their price target on Navan from $31.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, June 11th. Oppenheimer set a $30.00 price target on Navan in a report on Thursday, June 11th. Finally, The Goldman Sachs Group upgraded Navan from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. One investment 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.07.
Navan Price Performance
Shares of NAVN stock opened at $23.20 on Monday. The firm’s 50 day moving average price is $22.59 and its two-hundred day moving average price is $16.39. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31. Navan, Inc. has a 52-week low of $8.10 and a 52-week high of $28.22. The stock has a market cap of $5.90 billion and a PE ratio of -10.79.
Navan (NASDAQ:NAVN – Get Free Report) last issued its earnings results on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.20. The business had revenue of $220.23 million for the quarter. Navan’s revenue was up 39.8% on a year-over-year basis. As a group, analysts forecast that Navan, Inc. will post -0.37 EPS for the current year.
Insider Buying and Selling at Navan
In other Navan news, CEO Ariel M. Cohen sold 41,530 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $21.06, for a total transaction of $874,621.80. Following the transaction, the chief executive officer owned 1,254,731 shares in the company, valued at approximately $26,424,634.86. This trade represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $21.06, for a total value of $520,729.56. Following the transaction, the chief technology officer owned 805,860 shares of the company’s stock, valued at $16,971,411.60. The trade was a 2.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 5,139,153 shares of company stock valued at $102,867,420 over the last quarter. 63.39% of the stock is owned by corporate insiders.
Navan 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.
Further Reading
- Five stocks we like better than Navan
- RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade?
- These 4 Earnings Reports Expose the Market’s Growing Economic Divide
- Broadcom May Be the Biggest Winner From Alphabet’s Earnings
- Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit
Want to see what other hedge funds are holding NAVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Navan, Inc. (NASDAQ:NAVN – Free Report).
Receive News & Ratings for Navan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navan and related companies with MarketBeat.com's FREE daily email newsletter.
