Benjamin Horowitz Acquires 99,502 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) Director Benjamin Horowitz purchased 99,502 shares of the business’s stock in a transaction on Monday, December 29th. The stock was acquired at an average cost of $16.16 per share, with a total value of $1,607,952.32. Following the completion of the acquisition, the director directly owned 7,323,480 shares in the company, valued at $118,347,436.80. The trade was a 1.38% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Navan Trading Up 6.2%

Shares of NASDAQ:NAVN traded up $0.97 during trading hours on Monday, hitting $16.50. 1,531,872 shares of the company’s stock traded hands, compared to its average volume of 2,007,389. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.49 and a current ratio of 4.49. Navan, Inc. has a 52 week low of $11.76 and a 52 week high of $22.75.

Navan (NASDAQ:NAVN) last released its earnings results on Monday, December 15th. The company reported ($4.58) EPS for the quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NAVN shares. Mizuho began coverage on Navan in a research note on Monday, November 24th. They set an “outperform” rating and a $25.00 price objective for the company. Oppenheimer started coverage on Navan in a report on Monday, November 24th. They set an “outperform” rating and a $25.00 target price for the company. JMP Securities set a $25.00 price target on Navan in a research note on Monday, November 24th. Citizens Jmp restated a “market outperform” rating and set a $25.00 price objective on shares of Navan in a report on Tuesday, December 23rd. Finally, Loop Capital upgraded shares of Navan to a “strong-buy” rating in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the stock. According to MarketBeat, Navan has a consensus rating of “Buy” and an average price target of $24.92.

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.