Navan (NASDAQ:NAVN) Major Shareholder Lightspeed Venture Partners Se Sells 10,569 Shares of Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 10,569 shares of Navan stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $24.65, for a total transaction of $260,525.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Lightspeed Venture Partners Se also recently made the following trade(s):

• On Wednesday, June 17th, Lightspeed Venture Partners Se sold 77,323 shares of Navan stock. The stock was sold at an average price of $19.06, for a total transaction of $1,473,776.38.
• On Tuesday, June 16th, Lightspeed Venture Partners Se sold 398,546 shares of Navan stock. The shares were sold at an average price of $19.13, for a total transaction of $7,624,184.98.
• On Monday, June 15th, Lightspeed Venture Partners Se sold 1,004,231 shares of Navan stock. The shares were sold at an average price of $20.37, for a total transaction of $20,456,185.47.
• On Friday, June 12th, Lightspeed Venture Partners Se sold 1,019,900 shares of Navan stock. The stock was sold at an average price of $20.00, for a total transaction of $20,398,000.00.

Navan Stock Performance

Shares of NAVN opened at $25.67 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.31 and a quick ratio of 4.31. The stock has a 50-day moving average of $20.00 and a 200-day moving average of $15.27. The company has a market cap of $6.53 billion and a PE ratio of -11.94. Navan, Inc. has a one year low of $8.10 and a one year high of $25.86.

Navan (NASDAQ:NAVN) last posted its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.20. The firm had revenue of $220.23 million for the quarter. The business’s quarterly revenue was up 39.8% compared to the same quarter last year. On average, equities research analysts predict that Navan, Inc. will post -0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Lightspeed Management Company L.L.C. bought a new position in Navan during the 4th quarter valued at $852,658,000. a16z Capital Management L.L.C. bought a new stake in shares of Navan in the 4th quarter worth $464,497,000. Greenoaks Capital Partners LLC bought a new stake in shares of Navan in the 4th quarter worth $274,088,000. Cosmic Management LLC purchased a new stake in shares of Navan in the fourth quarter valued at about $121,930,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd bought a new position in shares of Navan during the fourth quarter valued at about $100,332,000.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NAVN. Citizens Jmp increased their target price on Navan from $31.00 to $38.00 and gave the stock a “market outperform” rating in a report on Thursday, June 11th. Morgan Stanley upped their price objective on shares of Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. BTIG Research raised their price objective on shares of Navan from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Jefferies Financial Group lifted their price objective on shares of Navan from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Finally, Oppenheimer set a $30.00 target price on shares of Navan in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.64.

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.