Insider Selling: Navan (NASDAQ:NAVN) President Sells 51,169 Shares of Stock

Navan, Inc. (NASDAQ:NAVN) President Michael Eric Sindicich sold 51,169 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $20.20, for a total value of $1,033,613.80. Following the completion of the transaction, the president directly owned 549,251 shares of the company’s stock, valued at approximately $11,094,870.20. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Eric Sindicich also recently made the following trade(s):

• On Friday, March 20th, Michael Eric Sindicich sold 2,206 shares of Navan stock. The stock was sold at an average price of $8.62, for a total value of $19,015.72.

Navan Price Performance

Shares of NAVN traded up $1.41 on Monday, reaching $22.78. 4,156,045 shares of the stock traded hands, compared to its average volume of 2,680,084. The stock’s 50-day moving average is $15.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.07 and a current ratio of 4.07. The firm has a market cap of $5.71 billion and a price-to-earnings ratio of -10.90. Navan, Inc. has a 12 month low of $8.10 and a 12 month high of $23.14.

Navan (NASDAQ:NAVN) last issued its earnings results on Wednesday, March 25th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.26. The firm had revenue of $177.92 million during the quarter. Navan’s revenue was up 34.8% compared to the same quarter last year. As a group, equities research analysts forecast that Navan, Inc. will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Navan

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CTC Alternative Strategies Ltd. acquired a new stake in shares of Navan in the first quarter valued at $177,000. Bank of America Corp DE grew its holdings in Navan by 733.7% during the 1st quarter. Bank of America Corp DE now owns 210,524 shares of the company’s stock worth $2,787,000 after acquiring an additional 185,271 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Navan during the 1st quarter worth about $367,000. Sunbelt Securities Inc. acquired a new stake in Navan in the 1st quarter valued at about $71,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Navan by 160.3% in the first quarter. The Manufacturers Life Insurance Company now owns 38,212 shares of the company’s stock worth $506,000 after acquiring an additional 23,534 shares during the last quarter.

Wall Street Analyst Weigh In

NAVN has been the subject of a number of analyst reports. TD Cowen began coverage on shares of Navan in a report on Wednesday, April 15th. They set a “buy” rating and a $18.00 price objective for the company. Rosenblatt Securities dropped their price target on shares of Navan from $30.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. Morgan Stanley lifted their price objective on Navan from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Oppenheimer increased 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. Finally, Bank of America assumed coverage on Navan in a research report on Tuesday, April 7th. They issued a “buy” rating and a $17.00 price target on the stock. One 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.07.

Navan Company 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.