Janus Henderson Group PLC Makes New $367,000 Investment in Navan, Inc. $NAVN

Janus Henderson Group PLC acquired a new stake in shares of Navan, Inc. (NASDAQ:NAVN) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 27,700 shares of the company’s stock, valued at approximately $367,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NAVN. Royal Bank of Canada purchased a new position in shares of Navan in the 4th quarter valued at approximately $35,000. California State Teachers Retirement System bought a new stake in shares of Navan during the fourth quarter valued at approximately $39,000. Russell Investments Group Ltd. purchased a new stake in Navan in the fourth quarter worth $51,000. Sunbelt Securities Inc. purchased a new stake in Navan in the first quarter worth $71,000. Finally, Strs Ohio raised its holdings in Navan by 86.4% in the first quarter. Strs Ohio now owns 12,300 shares of the company’s stock worth $163,000 after purchasing an additional 5,700 shares in the last quarter.

Insider Buying and Selling

In other Navan news, CEO Ariel M. Cohen sold 41,530 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 value of $874,621.80. Following the completion of the transaction, the chief executive officer directly owned 1,254,731 shares in the company, valued at $26,424,634.86. This represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 completion of the sale, the president directly owned 548,318 shares of the company’s stock, valued at approximately $11,547,577.08. This trade represents a 0.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 5,139,153 shares of company stock worth $102,867,420 in the last ninety days. Corporate insiders own 63.39% of the company’s stock.

Navan Stock Performance

NASDAQ:NAVN opened at $28.68 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31. The stock has a 50-day simple moving average of $24.26 and a two-hundred day simple moving average of $17.24. The firm has a market capitalization of $7.29 billion and a PE ratio of -13.34. Navan, Inc. has a 52-week low of $8.10 and a 52-week high of $29.88.

Navan (NASDAQ:NAVN) last posted 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 company had revenue of $220.23 million during the quarter. The business’s quarterly revenue was up 39.8% on a year-over-year basis. Analysts forecast that Navan, Inc. will post -0.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NAVN. Oppenheimer set a $30.00 target price on shares of Navan in a research report on Thursday, June 11th. Jefferies Financial Group lifted their price target on shares of Navan from $18.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Mizuho increased their price objective 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. Bank of America lifted their target price on shares of Navan from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Finally, Weiss Ratings raised Navan from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Navan presently has a consensus rating of “Moderate Buy” and an average target price of $29.07.

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.