Key Points
- Lightspeed Venture Partners Se sold 10,569 Navan shares on July 1 at an average price of $24.65, totaling about $260,526, according to an SEC filing. The sale follows a much larger series of insider sales in mid-June.
- Earlier transactions included sales of 77,323, 398,546, 1,004,231, and 1,019,900 shares over June 12-17, indicating a significant reduction in the shareholder’s Navan stake.
- Navan has shown strong recent operating performance, reporting EPS of $0.08 versus expectations for a loss and 39.8% revenue growth year over year. Analysts currently have a Moderate Buy consensus with an average target price of $28.64.
Navan, Inc. (NASDAQ:NAVN - Get Free Report) major shareholder Lightspeed Venture Partners Se sold 10,569 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.65, for a total value of $260,525.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
Lightspeed Venture Partners Se also recently made the following trade(s):
- On Wednesday, June 17th, Lightspeed Venture Partners Se sold 77,323 shares of Navan stock. The shares were sold at an average price of $19.06, for a total value of $1,473,776.38.
- 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 value of $7,624,184.98.
- On Monday, June 15th, Lightspeed Venture Partners Se sold 1,004,231 shares of Navan stock. The stock was 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 transaction of $20,398,000.00.
Navan Price Performance
NAVN opened at $25.67 on Friday. The firm has a market cap of $6.53 billion and a P/E ratio of -11.94. The firm has a 50-day moving average of $20.00 and a 200 day moving average of $15.27. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31. Navan, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $25.86.
Navan (NASDAQ:NAVN - Get Free Report) last announced 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 revenue for the quarter was up 39.8% on a year-over-year basis. On average, research analysts expect that Navan, Inc. will post -0.37 EPS for the current year.
Hedge Funds Weigh In On Navan
Several hedge funds have recently made changes to their positions in NAVN. Royal Bank of Canada bought a new stake in shares of Navan during the 4th quarter valued at $35,000. California State Teachers Retirement System purchased a new position in Navan during the 4th quarter valued at about $39,000. Russell Investments Group Ltd. purchased a new position in Navan during the 4th quarter valued at about $51,000. Sunbelt Securities Inc. bought a new stake in shares of Navan during the first quarter valued at about $71,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Navan in the fourth quarter worth about $101,000.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. The Goldman Sachs Group raised shares of Navan from a "buy" rating to a "buy" rating in a report on Monday, June 8th. Citizens Jmp raised their target price on Navan from $31.00 to $38.00 and gave the stock a "market outperform" rating in a research report on Thursday, June 11th. Morgan Stanley boosted their target price on Navan from $25.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, June 11th. BTIG Research upped their price target on Navan from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. Finally, Rosenblatt Securities increased their price target on Navan from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.64.
Check Out Our Latest Analysis on NAVN
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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