Vanguard Group Inc. acquired a new stake in Navan, Inc. (NASDAQ:NAVN – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,328,317 shares of the company’s stock, valued at approximately $56,848,000.
Other hedge funds also recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in Navan in the 4th quarter valued at about $115,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Navan in the 4th quarter valued at about $256,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Navan in the 4th quarter valued at about $257,000. SG Americas Securities LLC acquired a new stake in Navan in the 4th quarter valued at about $270,000. Finally, Lunate Capital Ltd acquired a new stake in Navan in the 4th quarter valued at about $3,416,000.
Navan Price Performance
Navan stock opened at $18.46 on Friday. The company has a 50 day moving average price of $13.42. Navan, Inc. has a 1-year low of $8.10 and a 1-year high of $22.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.07 and a current ratio of 4.07. The stock has a market cap of $4.63 billion and a PE ratio of -8.83.
Wall Street Analyst Weigh In
NAVN has been the subject of a number of recent research reports. Jefferies Financial Group cut their price objective on shares of Navan from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Oppenheimer increased their price objective on shares of Navan from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Citigroup dropped their price target on shares of Navan from $26.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Morgan Stanley increased their price target on shares of Navan from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, The Goldman Sachs Group increased their price target on shares of Navan from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Navan has an average rating of “Moderate Buy” and a consensus target price of $22.07.
Read Our Latest Stock Analysis on NAVN
Insider Buying and Selling
In related news, CTO Ilan Ezra Twig sold 49,210 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $8.62, for a total transaction of $424,190.20. Following the completion of the transaction, the chief technology officer owned 538,012 shares of the company’s stock, valued at approximately $4,637,663.44. This trade represents a 8.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anne Mary Giviskos sold 31,150 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $9.52, for a total transaction of $296,548.00. Following the transaction, the insider directly owned 74,940 shares of the company’s stock, valued at $713,428.80. The trade was a 29.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 233,573 shares of company stock valued at $2,041,434.
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.
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