Corient Private Wealth LP Acquires 57,267 Shares of Navan, Inc. $NAVN

Key Points

• Corient Private Wealth LP initiated a Navan position by purchasing 57,267 shares valued at approximately $1.31 million. Several other institutional investors also recently acquired significant stakes.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $30.50; recent targets range as high as $34.
• Navan reported quarterly revenue of $232.79 million, up 35.4% year over year, and earnings of $0.05 per share versus expectations for a $0.12 loss. Shares opened at $19.42, while insiders sold 508,594 shares worth $14.38 million over the prior quarter.

Corient Private Wealth LP purchased a new position in shares of Navan, Inc. (NASDAQ:NAVN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 57,267 shares of the company's stock, valued at approximately $1,310,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NAVN. Cosmic Management LLC acquired a new stake in Navan during the 4th quarter worth $121,930,000. Napean Trading & Investment Co Singapore PTE Ltd acquired a new position in Navan in the fourth quarter valued at $100,332,000. Alkeon Capital Management LLC acquired a new position in Navan in the fourth quarter valued at $45,891,000. Capital International Investors purchased a new stake in shares of Navan in the fourth quarter valued at about $41,557,000. Finally, Dragoneer Investment Group LLC purchased a new stake in shares of Navan in the fourth quarter valued at about $35,791,000.

Insider Buying and Selling at Navan

In other Navan news, major shareholder Lightspeed Venture Partners Se sold 8,983 shares of Navan stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $25.36, for a total transaction of $227,808.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Michael Sindicich sold 8,977 shares of the firm's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $21.27, for a total value of $190,940.79. Following the sale, the president owned 539,341 shares in the company, valued at approximately $11,471,783.07. The trade was a 1.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 508,594 shares of company stock worth $14,379,521 in the last quarter. Company insiders own 63.39% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on NAVN shares. Rosenblatt Securities upped their price objective on Navan from $27.00 to $29.00 and gave the company a "buy" rating in a research note on Thursday, September 10th. BNP Paribas Exane increased their price target on Navan from $27.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Needham & Company LLC reiterated a "buy" rating on shares of Navan in a research report on Thursday, September 10th. The Goldman Sachs Group raised shares of Navan from a "buy" rating to a "buy" rating in a research note on Monday, June 8th. Finally, Bank of America increased their price target on shares of Navan from $26.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.50.

Navan Stock Down 0.1%

Shares of NAVN opened at $19.42 on Friday. Navan, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $30.88. The company's fifty day moving average is $26.07 and its two-hundred day moving average is $20.70. The firm has a market cap of $5.06 billion and a PE ratio of -3.84. The company has a quick ratio of 4.38, a current ratio of 4.38 and a debt-to-equity ratio of 0.09.

Navan (NASDAQ:NAVN - Get Free Report) last issued its earnings results on Wednesday, September 9th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.17. Navan had a negative return on equity of 13.91% and a negative net margin of 42.11%.The business had revenue of $232.79 million for the quarter. The firm's quarterly revenue was up 35.4% on a year-over-year basis. Analysts forecast that Navan, Inc. will post -0.29 earnings per share for the current year.

Navan Profile

Navan, Inc is a business travel and expense management technology company. The company provides an integrated platform that helps organizations plan and book business travel, manage travel-related spending, and streamline expense reporting and reimbursement.

Its products and services include corporate travel booking, lodging and transportation reservations, expense management tools, payment and corporate card capabilities, travel policy controls, and reporting solutions. Navan also uses automation and artificial intelligence to assist employees with trip planning and help companies manage travel programs and spending.

The company was founded in 2015 as TripActions by Ariel Cohen and Ilan Twig and later adopted the Navan name as its platform expanded beyond travel booking into broader spend management.

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