Navan (NASDAQ:NAVN) President Sells $190,940.79 in Stock

Navan, Inc. (NASDAQ:NAVN) President Michael Sindicich sold 8,977 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $21.27, for a total value of $190,940.79. Following the transaction, the president owned 539,341 shares in the company, valued at approximately $11,471,783.07. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Navan Price Performance

Shares of Navan stock opened at $19.42 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.38 and a quick ratio of 4.38. Navan, Inc. has a one year low of $8.10 and a one year high of $30.88. The business’s 50 day simple moving average is $26.07 and its two-hundred day simple moving average is $20.70. The stock has a market capitalization of $5.06 billion and a P/E ratio of -3.84.

Navan (NASDAQ:NAVN) last released its quarterly earnings data on Wednesday, September 9th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.17. Navan had a negative return on equity of 13.91% and a negative net margin of 42.11%.The firm had revenue of $232.79 million during the quarter. Navan’s revenue was up 35.4% compared to the same quarter last year. Analysts forecast that Navan, Inc. will post -0.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of Navan from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Citizens Jmp restated a “market outperform” rating and issued a $38.00 price objective on shares of Navan in a research report on Thursday, September 10th. Bank of America upped their price objective on shares of Navan from $26.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Citigroup reiterated an “outperform” rating on shares of Navan in a report on Thursday, June 11th. Finally, Weiss Ratings cut Navan from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday. One investment 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 given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.50.

Institutional Trading of Navan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new stake in Navan in the second quarter valued at $25,000. Orion Capital Management LLC purchased a new position in Navan during the 2nd quarter valued at $54,000. Sunbelt Securities Inc. bought a new position in Navan in the 1st quarter worth $71,000. EMC Capital Management bought a new position in Navan in the 2nd quarter worth $114,000. Finally, Versant Capital Management Inc lifted its position in shares of Navan by 23.2% in the 2nd quarter. Versant Capital Management Inc now owns 5,785 shares of the company’s stock worth $132,000 after purchasing an additional 1,091 shares during the period.

About Navan

Navan, Inc is a business travel and expense management technology company. The company provides an integrated platform that helps organizations plan and book business travel, manage travel-related spending, and streamline expense reporting and reimbursement.

Its products and services include corporate travel booking, lodging and transportation reservations, expense management tools, payment and corporate card capabilities, travel policy controls, and reporting solutions. Navan also uses automation and artificial intelligence to assist employees with trip planning and help companies manage travel programs and spending.

The company was founded in 2015 as TripActions by Ariel Cohen and Ilan Twig and later adopted the Navan name as its platform expanded beyond travel booking into broader spend management.