Insider Buying: Navan (NASDAQ:NAVN) Major Shareholder Purchases 347,600 Shares of Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Horowitz Fund Andreessen purchased 347,600 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were bought at an average cost of $12.65 per share, with a total value of $4,397,140.00. Following the purchase, the insider directly owned 5,922,151 shares of the company’s stock, valued at approximately $74,915,210.15. This represents a 6.24% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Navan Stock Performance

Shares of NAVN traded up $1.34 during mid-day trading on Friday, hitting $15.11. 10,653,071 shares of the company traded hands, compared to its average volume of 1,501,196. Navan, Inc. has a 1-year low of $11.76 and a 1-year high of $22.75.

Navan (NASDAQ:NAVN) last released its quarterly earnings data on Monday, December 15th. The company reported ($4.58) earnings per share for the quarter.

Wall Street Analysts Forecast Growth

NAVN has been the topic of several analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $20.00 price target on shares of Navan in a research note on Tuesday. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 price target on shares of Navan in a research note on Friday, December 12th. The Goldman Sachs Group assumed coverage on shares of Navan in a research report on Monday, November 24th. They set a “buy” rating and a $29.00 price objective for the company. BNP Paribas Exane started coverage on Navan in a research report on Monday, November 24th. They set an “outperform” rating and a $24.00 price objective for the company. Finally, Oppenheimer began coverage on shares of Navan in a research report on Monday, November 24th. They set an “outperform” rating and a $25.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company. According to MarketBeat, Navan currently has an average rating of “Buy” and a consensus target price of $24.92.

About Navan

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.