Navan (NASDAQ:NAVN) Major Shareholder Horowitz Lsv Fund Andreessen Buys 229,917 Shares

Navan, Inc. (NASDAQ:NAVN) major shareholder Horowitz Lsv Fund Andreessen acquired 229,917 shares of Navan stock in a transaction on Friday, December 26th. The stock was purchased at an average cost of $15.57 per share, with a total value of $3,579,807.69. Following the purchase, the insider directly owned 7,223,978 shares of the company’s stock, valued at approximately $112,477,337.46. This trade represents a 3.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Navan Stock Up 6.2%

Shares of Navan stock traded up $0.97 on Monday, hitting $16.50. The company had a trading volume of 1,531,872 shares, compared to its average volume of 2,007,389. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.49 and a quick ratio of 4.49. Navan, Inc. has a 1 year low of $11.76 and a 1 year high of $22.75.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Jefferies Financial Group set a $20.00 price objective on shares of Navan in a research report on Tuesday, December 16th. Rosenblatt Securities reissued a “buy” rating and set a $30.00 price objective on shares of Navan in a research note on Friday, December 12th. JMP Securities set a $25.00 price target on Navan in a report on Monday, November 24th. Mizuho initiated coverage on shares of Navan in a report on Monday, November 24th. They issued an “outperform” rating and a $25.00 price objective for the company. Finally, Loop Capital upgraded Navan to a “strong-buy” rating in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat.com, Navan has an average rating of “Buy” and an average target price 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.