Navan Sees Unusually Large Options Volume (NASDAQ:NAVN)

Navan, Inc. (NASDAQ:NAVN) saw unusually large options trading activity on Wednesday. Traders bought 3,105 call options on the company. This represents an increase of 195% compared to the typical volume of 1,051 call options.

Navan Trading Down 1.0%

Shares of NAVN stock traded down $0.28 on Wednesday, hitting $26.36. 560,401 shares of the company’s stock traded hands, compared to its average volume of 3,132,972. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31. The company’s fifty day simple moving average is $27.22 and its 200 day simple moving average is $19.73. The stock has a market capitalization of $6.71 billion and a price-to-earnings ratio of -12.26. Navan has a one year low of $8.10 and a one year high of $30.88.

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

Insider Buying and Selling at Navan

In other news, President Michael Sindicich sold 2,176 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $21.06, for a total value of $45,826.56. Following the sale, the president directly owned 548,318 shares of the company’s stock, valued at approximately $11,547,577.08. This represents a 0.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ariel M. Cohen sold 168,378 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $30.14, for a total value of $5,074,912.92. Following the transaction, the chief executive officer directly owned 1,086,242 shares in the company, valued at approximately $32,739,333.88. This trade represents a 13.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,481,362 shares of company stock valued at $113,690,219 in the last ninety days. Insiders own 63.39% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NAVN. Integrated Wealth Concepts LLC purchased a new position in shares of Navan during the second quarter worth about $25,000. Corient Private Wealth LP purchased a new position in shares of Navan during the 2nd quarter worth approximately $1,310,000. California State Teachers Retirement System lifted its holdings in Navan by 1,523.7% in the second quarter. California State Teachers Retirement System now owns 32,864 shares of the company’s stock valued at $752,000 after acquiring an additional 30,840 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Navan in the second quarter valued at about $54,000. Finally, EMC Capital Management acquired a new stake in shares of Navan in the 2nd quarter worth approximately $114,000.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. BTIG Research upped their price objective on shares of Navan from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Morgan Stanley raised their target price on Navan from $25.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. The Goldman Sachs Group raised shares of Navan from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Citizens Jmp raised their price objective on Navan from $31.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, June 11th. Finally, TD Cowen upped their target price on Navan from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.36.

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.