Key Points
- Navan CTO Ilan Ezra Twig sold 24,726 shares on June 22 for about $520,729.56 at an average price of $21.06, reducing his direct stake by 2.98%. The filing says the sale was made to cover tax withholding tied to vested equity awards.
- Navan shares were down 1.8% in the session, opening at $21.28, while the company’s market cap stood at about $5.41 billion. The stock has traded between $8.10 and $24.50 over the past 12 months.
- The company recently reported better-than-expected quarterly results, posting EPS of $0.08 versus estimates for a loss and revenue of $220.23 million, up 39.8% year over year. Analysts currently have a Moderate Buy consensus with an average price target of $28.64.
Navan, Inc. (NASDAQ:NAVN - Get Free Report) President Michael Eric Sindicich sold 2,176 shares of the firm's stock in a transaction dated 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 transaction, the president directly owned 548,318 shares in the company, valued at approximately $11,547,577.08. This represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Michael Eric Sindicich also recently made the following trade(s):
- On Thursday, May 28th, Michael Eric Sindicich sold 51,169 shares of Navan stock. The shares were sold at an average price of $20.20, for a total transaction of $1,033,613.80.
Navan Stock Down 1.8%
Shares of NASDAQ NAVN opened at $21.28 on Wednesday. The stock has a market cap of $5.41 billion and a PE ratio of -9.90. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10. Navan, Inc. has a 12-month low of $8.10 and a 12-month high of $24.50. The company has a 50-day moving average of $18.79 and a 200 day moving average of $14.82.
Navan (NASDAQ:NAVN - Get Free Report) 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 business had revenue of $220.23 million during the quarter. The business's revenue for the quarter was up 39.8% compared to the same quarter last year. As a group, sell-side analysts predict that Navan, Inc. will post -0.37 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on NAVN. Jefferies Financial Group boosted their price objective on Navan from $18.00 to $26.00 and gave the stock a "buy" rating in a research note on Thursday, June 11th. Needham & Company LLC reiterated a "buy" rating and set a $30.00 price target on shares of Navan in a report on Monday. Rosenblatt Securities boosted their price target on shares of Navan from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Monday, June 8th. TD Cowen upped their price objective on shares of Navan from $28.00 to $29.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Finally, BMO Capital Markets raised their price objective on shares of Navan from $22.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $28.64.
Get Our Latest Stock Analysis on Navan
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in NAVN. Lightspeed Management Company L.L.C. acquired a new stake in Navan during the fourth quarter worth $852,658,000. a16z Capital Management L.L.C. acquired a new position in shares of Navan in the 4th quarter valued at $464,497,000. Greenoaks Capital Partners LLC purchased a new position in shares of Navan during the 4th quarter worth $274,088,000. Cosmic Management LLC purchased a new position in shares of Navan during the 4th quarter worth $121,930,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd acquired a new stake in shares of Navan during the 4th quarter worth about $100,332,000.
Navan Company Profile
(
Get Free Report)
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.
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