Navan (NASDAQ:NAVN) Stock Price Down 4.9% – Time to Sell?

Shares of Navan, Inc. (NASDAQ:NAVN) traded down 4.9% during trading on Tuesday . The stock traded as low as $26.63 and last traded at $26.3730. Approximately 548,953 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 3,307,711 shares. The stock had previously closed at $27.73.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NAVN shares. Rosenblatt Securities boosted their target price on shares of Navan from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Oppenheimer set a $30.00 price target on shares of Navan in a report on Thursday, June 11th. Jefferies Financial Group upped their price objective on Navan from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Citizens Jmp increased their price objective on Navan from $31.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, June 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Navan in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.07.

Navan Trading Down 5.2%

The firm’s 50-day moving average price is $22.15 and its 200-day moving average price is $16.19. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.10. The company has a market cap of $6.69 billion and a P/E ratio of -12.21.

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

Insider Activity

In other Navan news, President Michael Eric Sindicich sold 2,176 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $21.06, for a total transaction of $45,826.56. Following the sale, the president owned 548,318 shares in the company, valued at $11,547,577.08. This represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Lightspeed Venture Partners Se sold 8,983 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $25.36, for a total value of $227,808.88. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 5,139,153 shares of company stock valued at $102,867,420. 63.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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