Vanguard Group Inc. Purchases Shares of 3,328,317 Navan, Inc. $NAVN

Vanguard Group Inc. purchased a new stake in Navan, Inc. (NASDAQ:NAVN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,328,317 shares of the company’s stock, valued at approximately $56,848,000. Vanguard Group Inc. owned about 1.34% of Navan as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new stake in Navan in the fourth quarter valued at $115,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Navan in the fourth quarter worth about $256,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Navan in the fourth quarter worth about $257,000. SG Americas Securities LLC acquired a new position in shares of Navan in the fourth quarter worth about $270,000. Finally, Lunate Capital Ltd acquired a new position in shares of Navan in the fourth quarter worth about $3,416,000.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Rosenblatt Securities decreased their price objective 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. TD Cowen assumed coverage on shares of Navan in a research report on Wednesday, April 15th. They issued a “buy” rating and a $18.00 price objective for the company. Oppenheimer upped their price objective on shares of Navan from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Morgan Stanley upped their price objective on shares of Navan from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group upped their price objective on shares of Navan from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.07.

Navan Stock Down 0.3%

NAVN opened at $18.46 on Friday. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $22.75. 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 stock’s 50-day moving average is $13.42. The firm has a market cap of $4.63 billion and a P/E ratio of -8.83.

Navan (NASDAQ:NAVN) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.26. The company had revenue of $177.92 million for the quarter. Navan’s quarterly revenue was up 34.8% on a year-over-year basis. As a group, sell-side analysts expect that Navan, Inc. will post -0.33 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Ilan Ezra Twig sold 49,210 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $8.62, for a total transaction of $424,190.20. Following the completion of the transaction, the chief technology officer owned 538,012 shares in the company, valued at $4,637,663.44. This represents a 8.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ariel M. Cohen sold 151,007 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $8.62, for a total transaction of $1,301,680.34. Following the transaction, the chief executive officer owned 1,003,918 shares of the company’s stock, valued at approximately $8,653,773.16. This trade represents a 13.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 233,573 shares of company stock worth $2,041,434 in the last 90 days.

Navan 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.