Navan, Inc. (NASDAQ:NAVN – Get Free Report) Director Arif Janmohamed sold 1,004,231 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $20.37, for a total transaction of $20,456,185.47. Following the transaction, the director directly owned 2,756,858 shares of the company’s stock, valued at approximately $56,157,197.46. This represents a 26.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Arif Janmohamed also recently made the following trade(s):
- On Friday, June 12th, Arif Janmohamed 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 0.9%
NAVN traded up $0.17 on Monday, reaching $20.10. 5,656,674 shares of the company’s stock were exchanged, compared to its average volume of 4,247,811. The company’s 50 day moving average is $17.75 and its 200-day moving average is $14.60. The company has a market cap of $5.04 billion and a price-to-earnings ratio of -9.62. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $24.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on NAVN shares. BTIG Research increased their target price on shares of Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday. Mizuho increased their target price on shares of Navan from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday. BMO Capital Markets increased their target price on shares of Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley increased their target price on shares of Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Needham & Company LLC increased their target price on shares of Navan from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $28.64.
Check Out Our Latest Report on Navan
Hedge Funds Weigh In On Navan
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lightspeed Management Company L.L.C. purchased a new position in Navan in the 4th quarter worth approximately $852,658,000. a16z Capital Management L.L.C. acquired a new stake in shares of Navan during the fourth quarter valued at about $464,497,000. Greenoaks Capital Partners LLC acquired a new stake in shares of Navan during the fourth quarter valued at about $274,088,000. Cosmic Management LLC acquired a new position in shares of Navan in the fourth quarter worth about $121,930,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd acquired a new position in shares of Navan in the fourth quarter worth about $100,332,000.
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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