Navan (NASDAQ:NAVN) Stock Price Down 7.3% – Should You Sell?

Navan, Inc. (NASDAQ:NAVN) dropped 7.3% during mid-day trading on Wednesday . The stock traded as low as $15.95 and last traded at $15.99. Approximately 396,315 shares changed hands during trading, a decline of 80% from the average daily volume of 1,999,542 shares. The stock had previously closed at $17.25.

Analyst Ratings Changes

Several analysts have weighed in on the company. Citigroup began coverage on Navan in a research note on Monday, November 24th. They set a “buy” rating and a $26.00 target price on the stock. Citizens Jmp reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of Navan in a report on Tuesday, December 23rd. BNP Paribas set a $24.00 target price on shares of Navan in a research report on Monday, November 24th. Zacks Research upgraded shares of Navan to a “hold” rating in a research report on Friday, December 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $20.00 price target on shares of Navan in a research note on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $25.00.

Navan Trading Up 0.2%

The company has a debt-to-equity ratio of 0.14, a current ratio of 4.49 and a quick ratio of 4.49. The stock has a fifty day moving average price of $15.62.

Insider Transactions at Navan

In other Navan news, major shareholder Horowitz Fund V. L. Andreessen bought 347,600 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were acquired at an average cost of $12.65 per share, for a total transaction of $4,397,140.00. Following the acquisition, the insider directly owned 5,922,151 shares of the company’s stock, valued at $74,915,210.15. This trade represents a 6.24% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Benjamin A. Horowitz bought 466,058 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were acquired at an average cost of $16.27 per share, with a total value of $7,582,763.66. Following the completion of the purchase, the director owned 7,789,538 shares of the company’s stock, valued at approximately $126,735,783.26. The trade was a 6.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 5,644,482 shares of company stock valued at $86,979,947 in the last quarter.

Hedge Funds Weigh In On Navan

A hedge fund recently bought a new stake in Navan stock. FNY Investment Advisers LLC bought a new stake in shares of Navan, Inc. (NASDAQ:NAVN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,744 shares of the company’s stock, valued at approximately $115,000.

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.