Lightspeed Venture Partners Se Sells 10,569 Shares of Navan (NASDAQ:NAVN) Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 10,569 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $24.65, for a total transaction of $260,525.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock 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 stock was sold at an average price of $19.06, for a total transaction 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 transaction 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 value of $20,398,000.00.

Navan Stock Performance

NASDAQ NAVN opened at $25.67 on Friday. The stock has a 50-day simple moving average of $20.20 and a 200 day simple moving average of $15.34. The company has a market capitalization of $6.53 billion and a PE ratio of -11.94. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10. Navan, Inc. has a 12 month low of $8.10 and a 12 month high of $25.86.

Navan (NASDAQ:NAVN) last released its earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.20. The company had revenue of $220.23 million during the quarter. The company’s revenue for the quarter was up 39.8% on a year-over-year basis. Research analysts forecast that Navan, Inc. will post -0.37 EPS for the current year.

Institutional Investors Weigh In On Navan

A number of hedge funds have recently modified their holdings of the business. Versant Capital Management Inc lifted its holdings in shares of Navan by 23.2% during the 2nd quarter. Versant Capital Management Inc now owns 5,785 shares of the company’s stock valued at $132,000 after purchasing an additional 1,091 shares in the last quarter. Royal Bank of Canada bought a new stake in Navan during the 4th quarter worth approximately $35,000. California State Teachers Retirement System bought a new stake in Navan during the 4th quarter worth approximately $39,000. Russell Investments Group Ltd. acquired a new stake in Navan during the 4th quarter worth approximately $51,000. Finally, Sunbelt Securities Inc. acquired a new stake in Navan during the 1st quarter worth approximately $71,000.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TD Cowen increased their price target on shares of Navan from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. BTIG Research upped their target price on shares of Navan from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Bank of America upped their target price on shares of Navan from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Rosenblatt Securities increased their target price on shares of Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Finally, Mizuho lifted their price target on shares of Navan from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. One research 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 stock. Based on data from MarketBeat.com, Navan presently has an average rating of “Moderate Buy” and a consensus target price of $28.64.

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.