Navan (NASDAQ:NAVN) Major Shareholder Lightspeed Venture Partners Se Sells 8,983 Shares

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 8,983 shares of Navan stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $25.36, for a total transaction of $227,808.88. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Lightspeed Venture Partners Se also recently made the following trade(s):

• On Wednesday, July 1st, Lightspeed Venture Partners Se sold 10,569 shares of Navan stock. The shares were sold at an average price of $24.65, for a total transaction of $260,525.85.
• 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 value 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 value of $7,624,184.98.
• On Monday, June 15th, Lightspeed Venture Partners Se sold 1,004,231 shares of Navan stock. The shares were 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 traded up $0.11 during mid-day trading on Thursday, reaching $25.63. 3,515,901 shares of the stock were exchanged, compared to its average volume of 3,292,321. The stock has a market capitalization of $6.52 billion and a P/E ratio of -11.92. Navan, Inc. has a 1 year low of $8.10 and a 1 year high of $28.22. The company has a 50 day simple moving average of $20.84 and a 200-day simple moving average of $15.62. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.10.

Navan (NASDAQ:NAVN) last issued its quarterly earnings data on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.20. The firm had revenue of $220.23 million during the quarter. Navan’s revenue was up 39.8% on a year-over-year basis. Analysts anticipate that Navan, Inc. will post -0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on NAVN shares. Bank of America increased their price target on shares of Navan from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Weiss Ratings raised shares of Navan from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, June 12th. BTIG Research increased their target price on shares of Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Mizuho raised their price target on Navan from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Finally, Jefferies Financial Group boosted their price target on Navan from $18.00 to $26.00 and gave the company a “buy” rating in a research report 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 issued a Sell rating to the company. According to data from MarketBeat.com, Navan has a consensus rating of “Moderate Buy” and a consensus price target of $28.64.

Hedge Funds Weigh In On Navan

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada purchased a new stake in Navan during the fourth quarter worth about $35,000. California State Teachers Retirement System acquired a new stake in shares of Navan in the 4th quarter worth approximately $39,000. Russell Investments Group Ltd. purchased a new position in Navan in the 4th quarter valued at approximately $51,000. Sunbelt Securities Inc. acquired a new position in Navan during the first quarter worth $71,000. Finally, Versant Capital Management Inc raised its holdings in Navan by 23.2% during the second quarter. Versant Capital Management Inc now owns 5,785 shares of the company’s stock worth $132,000 after purchasing an additional 1,091 shares during the last quarter.

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.