Jennison Associates LLC Purchases Shares of 1,826,419 Navan, Inc. $NAVN

Jennison Associates LLC purchased a new stake in shares of Navan, Inc. (NASDAQ:NAVN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,826,419 shares of the company’s stock, valued at approximately $31,195,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NAVN. FNY Investment Advisers LLC bought a new position in Navan during the 4th quarter valued at approximately $115,000. Teachers Retirement System of The State of Kentucky bought a new position in Navan during the 4th quarter valued at approximately $223,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Navan during the 4th quarter valued at approximately $256,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Navan during the 4th quarter valued at approximately $257,000. Finally, SG Americas Securities LLC bought a new position in Navan during the 4th quarter valued at approximately $270,000.

Navan Stock Performance

NAVN stock opened at $18.47 on Friday. Navan, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $22.75. The stock’s 50 day moving average price is $11.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.07 and a quick ratio of 4.07. The stock has a market cap of $4.63 billion and a P/E ratio of -8.84.

Navan (NASDAQ:NAVN) last posted its earnings results on Wednesday, March 25th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.26. The firm had revenue of $177.92 million for the quarter. The company’s quarterly revenue was up 34.8% on a year-over-year basis. Sell-side analysts forecast that Navan, Inc. will post -0.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

NAVN has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price target on Navan from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Thursday, March 26th. Weiss Ratings initiated coverage on Navan in a research report on Tuesday, January 27th. They set a “sell (d)” rating for the company. Oppenheimer upped their target price on Navan from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. The Goldman Sachs Group upped their target price on Navan from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Finally, Jefferies Financial Group reduced their target price on Navan from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.21.

Insiders Place Their Bets

In related news, insider Anne Mary Giviskos sold 31,150 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $9.52, for a total value of $296,548.00. Following the sale, the insider owned 74,940 shares in the company, valued at $713,428.80. This represents a 29.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ariel M. Cohen sold 151,007 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $8.62, for a total value of $1,301,680.34. Following the completion of the sale, the chief executive officer owned 1,003,918 shares in the company, valued at $8,653,773.16. The trade was a 13.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 233,573 shares of company stock worth $2,041,434.

Navan 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.