2,433,100 Shares in Navan, Inc. $NAVN Purchased by Capital International Investors

Capital International Investors purchased a new position in Navan, Inc. (NASDAQ:NAVN) during the 4th quarter, Holdings Channel reports. The fund purchased 2,433,100 shares of the company’s stock, valued at approximately $41,557,000.

Several other institutional investors also recently added to or reduced their stakes in NAVN. Strs Ohio purchased a new position in Navan in the 4th quarter worth about $113,000. FNY Investment Advisers LLC purchased a new position in Navan in the 4th quarter worth about $115,000. Teachers Retirement System of The State of Kentucky purchased a new position in Navan in the 4th quarter worth about $223,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Navan in the 4th quarter worth about $256,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Navan in the 4th quarter worth about $257,000.

Navan Trading Down 3.5%

NASDAQ NAVN opened at $20.68 on Wednesday. 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 company has a market capitalization of $5.19 billion and a price-to-earnings ratio of -9.89. The company’s 50-day simple moving average is $17.08 and its two-hundred day simple moving average is $14.44. Navan, Inc. has a one year low of $8.10 and a one year high of $23.53.

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

Insider Buying and Selling at Navan

In other Navan news, President Michael Eric Sindicich sold 51,169 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $20.20, for a total transaction of $1,033,613.80. Following the transaction, the president owned 549,251 shares of the company’s stock, valued at approximately $11,094,870.20. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Ilan Ezra Twig sold 49,210 shares of Navan stock in a transaction that occurred on Friday, March 20th. The stock was 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 directly owned 538,012 shares in the company, valued at approximately $4,637,663.44. The trade was a 8.38% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 253,592 shares of company stock valued at $2,778,500. Company insiders own 63.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley raised their price target on shares of Navan from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group raised shares of Navan from a “buy” rating to a “buy” rating in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating on shares of Navan in a research note on Monday. Citigroup reduced their price target on shares of Navan from $26.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Finally, TD Cowen raised their target price on shares of Navan from $19.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. One investment 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 a consensus target price of $23.64.

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.