Seven Grand Managers LLC acquired a new stake in Navan, Inc. (NASDAQ:NAVN – Free Report) in the fourth quarter, Holdings Channel reports. The fund acquired 100,000 shares of the company’s stock, valued at approximately $1,708,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in Navan in the fourth quarter valued at approximately $113,000. FNY Investment Advisers LLC bought a new position in shares of Navan in the fourth quarter valued at approximately $115,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Navan in the fourth quarter valued at approximately $223,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Navan in the fourth quarter valued at approximately $256,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Navan in the fourth quarter valued at approximately $257,000.
Analyst Ratings Changes
NAVN has been the topic of a number of recent research reports. Morgan Stanley raised their target price on Navan from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Oppenheimer raised their target price on Navan from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Rosenblatt Securities dropped their target price on Navan from $30.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Citigroup dropped their target price on Navan from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Finally, TD Cowen initiated coverage on Navan in a report on Wednesday, April 15th. They issued a “buy” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.07.
Insider Buying and Selling at Navan
In other news, CTO Ilan Ezra Twig sold 49,210 shares of Navan stock in a transaction on Friday, March 20th. The stock was sold at an average price of $8.62, for a total value of $424,190.20. Following the completion of the transaction, the chief technology officer directly owned 538,012 shares in the company, valued at approximately $4,637,663.44. The trade was a 8.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anne Mary Giviskos sold 31,150 shares of Navan stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $9.52, for a total value of $296,548.00. Following the completion of the transaction, the insider owned 74,940 shares of the company’s stock, valued at approximately $713,428.80. This trade represents a 29.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 233,573 shares of company stock worth $2,041,434 over the last ninety days. 63.39% of the stock is currently owned by company insiders.
Navan Price Performance
Shares of NAVN opened at $19.76 on Thursday. The company has a market capitalization of $4.96 billion and a price-to-earnings ratio of -9.45. The company has a fifty day moving average price of $14.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.07 and a current ratio of 4.07. Navan, Inc. has a 1 year low of $8.10 and a 1 year high of $22.75.
Navan (NASDAQ:NAVN – Get Free Report) last issued its earnings results on Wednesday, March 25th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.26. The firm had revenue of $177.92 million during the quarter. The business’s revenue for the quarter was up 34.8% compared to the same quarter last year. Sell-side analysts anticipate that Navan, Inc. will post -0.33 earnings per share for the current fiscal year.
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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