Seven Grand Managers LLC Invests $1.71 Million in Navan, Inc. $NAVN

Seven Grand Managers LLC acquired a new position in shares of Navan, Inc. (NASDAQ:NAVN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 100,000 shares of the company’s stock, valued at approximately $1,708,000.

A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC bought a new position in shares of Navan during the fourth quarter worth about $18,192,000. Praxis Investment Management Inc. bought a new position in shares of Navan during the fourth quarter worth about $568,000. Strs Ohio bought a new position in shares of Navan during the fourth quarter worth about $113,000. Jennison Associates LLC bought a new position in shares of Navan during the fourth quarter worth about $31,195,000. Finally, UBS Group AG bought a new position in shares of Navan during the fourth quarter worth about $9,125,000.

Navan Price Performance

NASDAQ NAVN opened at $19.76 on Thursday. The business’s 50 day simple moving average is $14.94. Navan, Inc. has a one year low of $8.10 and a one year high of $22.75. The firm has a market capitalization of $4.96 billion and a PE ratio of -9.45. The company has a quick ratio of 4.07, a current ratio of 4.07 and a debt-to-equity ratio of 0.10.

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

Insider Buying and Selling

In related news, insider Anne Mary Giviskos sold 31,150 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $9.52, for a total transaction of $296,548.00. Following the completion of the sale, the insider owned 74,940 shares of the company’s stock, valued at $713,428.80. This trade represents a 29.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ariel M. Cohen sold 151,007 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $8.62, for a total value of $1,301,680.34. Following the sale, the chief executive officer directly owned 1,003,918 shares of the company’s stock, valued at $8,653,773.16. This represents a 13.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 233,573 shares of company stock valued at $2,041,434 over the last 90 days. Company insiders own 63.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Bank of America assumed coverage on Navan in a research report on Tuesday, April 7th. They set a “buy” rating and a $17.00 price objective for the company. Morgan Stanley raised their price objective on Navan from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Weiss Ratings upgraded Navan from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Oppenheimer raised their target price on Navan from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Finally, TD Cowen assumed coverage on Navan in a research note on Wednesday, April 15th. They set a “buy” rating and a $18.00 target price for the company. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.07.

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.