Lightspeed Venture Partners Se Sells 77,323 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 77,323 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $19.06, for a total transaction of $1,473,776.38. Following the completion of the sale, the insider owned 2,280,989 shares in the company, valued at $43,475,650.34. This represents a 3.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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 value 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 value of $20,398,000.00.

Navan Stock Performance

Shares of NAVN traded up $0.92 during trading hours on Thursday, hitting $21.91. The stock had a trading volume of 6,338,613 shares, compared to its average volume of 3,031,106. The firm has a market capitalization of $5.49 billion and a PE ratio of -10.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.31 and a quick ratio of 4.31. Navan, Inc. has a 12 month low of $8.10 and a 12 month high of $24.50. The stock has a fifty day moving average price of $18.06 and a 200 day moving average price of $14.66.

Navan (NASDAQ:NAVN) last announced its earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.20. The firm had revenue of $220.23 million during the quarter. The business’s revenue was up 39.8% compared to the same quarter last year. Analysts anticipate that Navan, Inc. will post -0.37 EPS for the current year.

Analysts Set New Price Targets

NAVN has been the subject of a number of research reports. Rosenblatt Securities upped their target price on shares of Navan from $20.00 to $24.00 and gave the company a “buy” rating in a report on Monday, June 8th. Morgan Stanley upped their price objective on Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. BMO Capital Markets lifted their target price on Navan from $22.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 11th. Citigroup reissued an “outperform” rating on shares of Navan in a report on Thursday, June 11th. Finally, Mizuho upped their price target on Navan from $25.00 to $30.00 and gave the stock an “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 issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.64.

Hedge Funds Weigh In On Navan

A number of hedge funds have recently modified their holdings of the company. Royal Bank of Canada purchased a new stake in shares of Navan in the fourth quarter worth $35,000. California State Teachers Retirement System purchased a new position in shares of Navan during the 4th quarter valued at $39,000. Russell Investments Group Ltd. purchased a new position in shares of Navan during the 4th quarter valued at $51,000. Sunbelt Securities Inc. bought a new position in Navan in the 1st quarter worth $71,000. Finally, Strs Ohio increased its stake in Navan by 86.4% in the 1st quarter. Strs Ohio now owns 12,300 shares of the company’s stock worth $163,000 after buying an additional 5,700 shares in the last quarter.

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.