Ariel Cohen Sells 41,530 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) CEO Ariel Cohen sold 41,530 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $21.06, for a total transaction of $874,621.80. Following the sale, the chief executive officer owned 1,254,731 shares in the company, valued at $26,424,634.86. The trade was a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Navan Stock Down 1.8%

NASDAQ:NAVN traded down $0.38 during mid-day trading on Tuesday, hitting $21.28. The stock had a trading volume of 4,326,537 shares, compared to its average volume of 3,054,333. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $24.50. The stock has a 50-day simple moving average of $18.61 and a two-hundred day simple moving average of $14.78. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $5.41 billion and a PE ratio of -9.90.

Navan (NASDAQ:NAVN) last posted its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.12) by $0.20. The firm had revenue of $220.23 million for the quarter. The firm’s revenue was up 39.8% on a year-over-year basis. On average, equities research analysts anticipate that Navan, Inc. will post -0.37 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Bank of America increased their target price on Navan from $20.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Oppenheimer set a $30.00 price objective on Navan in a research report on Thursday, June 11th. Jefferies Financial Group increased their price objective on Navan from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. TD Cowen raised their target price on Navan from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Finally, BMO Capital Markets boosted their target price on Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.64.

Institutional Investors Weigh In On Navan

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lightspeed Management Company L.L.C. acquired a new position in Navan in the fourth quarter valued at $852,658,000. a16z Capital Management L.L.C. acquired a new stake in shares of Navan during the fourth quarter worth about $464,497,000. Greenoaks Capital Partners LLC purchased a new stake in shares of Navan in the 4th quarter valued at about $274,088,000. Cosmic Management LLC purchased a new stake in shares of Navan in the 4th quarter valued at about $121,930,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd acquired a new stake in shares of Navan in the 4th quarter valued at about $100,332,000.

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.