Insider Selling: Navan (NASDAQ:NAVN) Major Shareholder Sells 1,004,231 Shares of Stock

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 1,004,231 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $20.37, for a total transaction of $20,456,185.47. Following the completion of the transaction, the insider owned 2,756,858 shares in the company, valued at $56,157,197.46. This represents a 26.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, June 12th, Lightspeed Venture Partners Se sold 1,019,900 shares of Navan stock. The shares were sold at an average price of $20.00, for a total transaction of $20,398,000.00.

Navan Stock Up 0.9%

Navan stock traded up $0.17 during mid-day trading on Monday, hitting $20.10. The company had a trading volume of 5,656,674 shares, compared to its average volume of 4,247,811. Navan, Inc. has a 1 year low of $8.10 and a 1 year high of $24.50. 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 business has a fifty day moving average of $17.75 and a 200 day moving average of $14.60.

Navan (NASDAQ:NAVN) last announced its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.20. The company had revenue of $220.23 million during the quarter. The business’s revenue for the quarter was up 39.8% compared to the same quarter last year. As a group, sell-side analysts predict that Navan, Inc. will post -0.33 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada purchased a new position in Navan during the 4th quarter worth $35,000. California State Teachers Retirement System purchased a new position in Navan during the 4th quarter worth $39,000. Russell Investments Group Ltd. purchased a new position in Navan during the 4th quarter worth $51,000. Sunbelt Securities Inc. purchased a new position in Navan during the 1st quarter worth $71,000. Finally, New York State Common Retirement Fund purchased a new position in Navan in the 4th quarter valued at $101,000.

Analysts Set New Price Targets

Several equities analysts have commented on NAVN shares. The Goldman Sachs Group upgraded shares of Navan from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Bank of America increased their price target on shares of Navan from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday. Mizuho raised their target price on shares of Navan from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday. BMO Capital Markets raised their target price on shares of Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Citigroup restated an “outperform” rating on shares of Navan in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.64.

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.