300,417 Shares in Navan, Inc. $NAVN Purchased by Renaissance Technologies LLC

Key Points

• Renaissance Technologies acquired 300,417 Navan shares worth approximately $3.98 million, representing about 0.12% of the company. Several other institutional investors also initiated positions.
• Navan reported quarterly EPS of $0.08, beating estimates by $0.20, while revenue rose 39.8% year over year to $220.23 million. The stock opened at $29.08, near its 12-month high.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and a $29.07 target price, though insiders have sold more than 5.1 million shares worth approximately $102.9 million over the past 90 days.

Renaissance Technologies LLC bought a new stake in shares of Navan, Inc. (NASDAQ:NAVN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 300,417 shares of the company's stock, valued at approximately $3,978,000. Renaissance Technologies LLC owned approximately 0.12% of Navan at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Royal Bank of Canada acquired a new stake in shares of Navan during the fourth quarter worth approximately $35,000. California State Teachers Retirement System acquired a new position in Navan in the 4th quarter valued at approximately $39,000. Russell Investments Group Ltd. purchased a new stake in Navan in the 4th quarter worth approximately $51,000. New York State Common Retirement Fund acquired a new stake in shares of Navan during the 4th quarter valued at $101,000. Finally, Strs Ohio acquired a new stake in shares of Navan during the 4th quarter valued at $113,000.

Navan Stock Up 4.4%

NAVN stock opened at $29.08 on Friday. The business's 50-day simple moving average is $24.14 and its 200 day simple moving average is $17.12. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.10. The company has a market cap of $7.40 billion and a PE ratio of -13.53. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $29.42.

Navan (NASDAQ:NAVN - Get Free Report) last issued its earnings results on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.20. The firm had revenue of $220.23 million during the quarter. Navan's revenue for the quarter was up 39.8% compared to the same quarter last year. On average, research analysts anticipate that Navan, Inc. will post -0.37 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Rosenblatt Securities lifted their target price on shares of Navan from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Monday, June 8th. BMO Capital Markets lifted their price objective on shares of Navan from $22.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, June 11th. BTIG Research increased their target price on shares of Navan from $26.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Morgan Stanley boosted their price target on Navan from $25.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, June 11th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $30.00 price target on shares of Navan in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $29.07.

Insider Buying and Selling at Navan

In related news, Director Arif Janmohamed sold 1,019,900 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $20.00, for a total value of $20,398,000.00. Following the sale, the director owned 3,761,089 shares of the company's stock, valued at $75,221,780. The trade was a 21.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ariel M. Cohen sold 41,530 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $21.06, for a total transaction of $874,621.80. Following the transaction, the chief executive officer owned 1,254,731 shares of the company's stock, valued at approximately $26,424,634.86. This represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 5,139,153 shares of company stock worth $102,867,420. Corporate insiders own 63.39% of the company's stock.

Navan Company 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.

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