Navan (NASDAQ:NAVN) CTO Ilan Ezra Twig Sells 24,726 Shares

Navan, Inc. (NASDAQ:NAVN) CTO Ilan Ezra Twig sold 24,726 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $21.06, for a total transaction of $520,729.56. Following the completion of the transaction, the chief technology officer owned 805,860 shares of the company’s stock, valued at approximately $16,971,411.60. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Navan Stock Performance

Shares of Navan stock opened at $21.28 on Wednesday. The stock has a market cap of $5.41 billion and a price-to-earnings ratio of -9.90. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $24.50. The company’s fifty day moving average is $18.79 and its 200 day moving average is $14.82. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.10.

Navan (NASDAQ:NAVN) last issued its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.20. The company had revenue of $220.23 million during the quarter. The firm’s revenue was up 39.8% on a year-over-year basis. Sell-side analysts forecast that Navan, Inc. will post -0.37 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Bank of America upped their price objective on shares of Navan from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Mizuho upped their price target on shares of Navan from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 11th. TD Cowen increased their price target on Navan from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Oppenheimer set a $30.00 price objective on Navan in a research note on Thursday, June 11th. Finally, Citizens Jmp upped their target price on Navan from $31.00 to $38.00 and gave the company a “market outperform” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Navan has an average rating of “Moderate Buy” and a consensus target price of $28.64.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lightspeed Management Company L.L.C. acquired a new stake in Navan in the fourth quarter valued at approximately $852,658,000. a16z Capital Management L.L.C. acquired a new position in shares of Navan during the fourth quarter worth approximately $464,497,000. Greenoaks Capital Partners LLC bought a new position in shares of Navan in the 4th quarter worth $274,088,000. Cosmic Management LLC acquired a new stake in Navan in the 4th quarter valued at $121,930,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd bought a new stake in Navan during the 4th quarter valued at $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.