Insider Selling: Navan (NASDAQ:NAVN) Major Shareholder Sells $20,456,185.47 in Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 1,004,231 shares of Navan stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $20.37, for a total value of $20,456,185.47. Following the sale, the insider directly owned 2,756,858 shares in the company, valued at approximately $56,157,197.46. This trade represents a 26.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• 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 value of $20,398,000.00.

Navan Stock Up 10.3%

NAVN stock opened at $20.99 on Thursday. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $24.50. The company has a market cap of $5.26 billion and a PE ratio of -9.76. The business’s 50-day simple moving average is $18.06 and its 200 day simple moving average is $14.66. 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 released its 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, research analysts anticipate that Navan, Inc. will post -0.37 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on NAVN shares. Morgan Stanley lifted their target price on shares of Navan from $25.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Bank of America lifted their target price on shares of Navan from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Oppenheimer set a $30.00 target price on shares of Navan in a research report on Thursday, June 11th. BTIG Research lifted their target price on shares of Navan from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Finally, Citizens Jmp lifted their target price on shares of Navan from $31.00 to $38.00 and gave the company a “market outperform” rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Navan has a consensus rating of “Moderate Buy” and a consensus price target of $28.64.

Hedge Funds Weigh In On Navan

A number of 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 position in Navan in the fourth quarter valued at about $852,658,000. a16z Capital Management L.L.C. acquired a new position in Navan in the fourth quarter valued at about $464,497,000. Greenoaks Capital Partners LLC acquired a new position in Navan in the fourth quarter valued at about $274,088,000. Cosmic Management LLC acquired a new position in Navan in the fourth quarter valued at about $121,930,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd acquired a new position in Navan in the fourth quarter valued at about $100,332,000.

About Navan

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.