1,826,419 Shares in Navan, Inc. $NAVN Purchased by Jennison Associates LLC

Key Points

• Jennison Associates LLC bought a new position of 1,826,419 shares of Navan (≈$31.2M), representing about 0.73% of the company per its Q4 13F filing.
• Wall Street consensus is a Moderate Buy with an average price target of $21.21 after multiple buy/upgrades (notably Goldman Sachs, TD Cowen and BMO); analyst breakdown: 1 Strong Buy, 14 Buy, 1 Hold and 1 Sell.
• Navan beat EPS expectations (reported $0.02 vs. ($0.24) expected) with revenue up 34.8% YoY, while insiders — including the CEO and CTO — sold a combined ~233,573 shares in the quarter valued at about $2.04M.

Jennison Associates LLC bought a new position in shares of Navan, Inc. (NASDAQ:NAVN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,826,419 shares of the company's stock, valued at approximately $31,195,000. Jennison Associates LLC owned approximately 0.73% of Navan as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new stake in Navan during the fourth quarter worth about $115,000. Teachers Retirement System of The State of Kentucky bought a new stake in Navan during the fourth quarter worth about $223,000. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Navan during the fourth quarter worth about $256,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Navan during the fourth quarter worth about $257,000. Finally, SG Americas Securities LLC bought a new stake in Navan during the fourth quarter worth about $270,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NAVN shares. Weiss Ratings started coverage on Navan in a research note on Tuesday, January 27th. They set a "sell (d)" rating for the company. BMO Capital Markets lifted their price target on Navan from $13.00 to $15.00 and gave the stock an "outperform" rating in a research note on Thursday, March 26th. TD Cowen started coverage on Navan in a research note on Wednesday, April 15th. They set a "buy" rating and a $18.00 price target for the company. Citigroup dropped their price target on Navan from $26.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday, March 26th. Finally, The Goldman Sachs Group lifted their price target on Navan from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Friday, March 27th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $21.21.

Navan Trading Up 5.6%

NASDAQ NAVN opened at $18.47 on Friday. Navan, Inc. has a 1-year low of $8.10 and a 1-year 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 firm has a 50-day moving average of $11.89. The company has a market cap of $4.63 billion and a price-to-earnings ratio of -8.84.

Navan (NASDAQ:NAVN - Get Free Report) last released its earnings results on Wednesday, March 25th. The company reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.26. The company had revenue of $177.92 million during the quarter. Navan's revenue for the quarter was up 34.8% on a year-over-year basis. As a group, equities research analysts forecast that Navan, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ariel M. Cohen sold 151,007 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 1,003,918 shares of the company's stock, valued at approximately $8,653,773.16. The trade was a 13.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Ilan Ezra Twig sold 49,210 shares of the business's stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $8.62, for a total value of $424,190.20. Following the completion of the sale, the chief technology officer directly owned 538,012 shares of the company's stock, valued at approximately $4,637,663.44. This trade represents a 8.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 233,573 shares of company stock valued at $2,041,434.

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.

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