Navan, Inc. $NAVN Holdings Lowered by Tidal Investments LLC

Key Points

• Tidal Investments cut its Navan stake by 53.7% in the second quarter, selling 47,658 shares and retaining 41,093 shares valued at approximately $940,000. Several other institutional investors initiated new positions during the period.
• Navan reported quarterly revenue of $232.79 million, up 35.4% year over year, and earnings of $0.05 per share, beating consensus estimates of a $0.12 loss per share.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $30.50, compared with the stock’s reported opening price of $21.36.

Tidal Investments LLC reduced its stake in Navan, Inc. (NASDAQ:NAVN - Free Report) by 53.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,093 shares of the company's stock after selling 47,658 shares during the period. Tidal Investments LLC's holdings in Navan were worth $940,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new stake in Navan in the second quarter worth approximately $25,000. Corient Private Wealth LP acquired a new position in shares of Navan during the 2nd quarter valued at $1,310,000. Orion Capital Management LLC acquired a new position in shares of Navan during the 2nd quarter valued at $54,000. EMC Capital Management bought a new stake in shares of Navan in the 2nd quarter worth $114,000. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Navan in the second quarter valued at $579,000.

Navan Stock Performance

Shares of NASDAQ NAVN opened at $21.36 on Friday. The company has a quick ratio of 4.38, a current ratio of 4.38 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $5.43 billion and a price-to-earnings ratio of -4.22. The stock's fifty day simple moving average is $26.63 and its 200 day simple moving average is $20.35. Navan, Inc. has a 52-week low of $8.10 and a 52-week high of $30.88.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NAVN. Rosenblatt Securities lifted their target price on Navan from $27.00 to $29.00 and gave the stock a "buy" rating in a report on Thursday, September 10th. Oppenheimer upped their price target on shares of Navan from $30.00 to $35.00 and gave the company an "outperform" rating in a report on Thursday, August 27th. BTIG Research restated a "buy" rating and set a $30.00 price objective on shares of Navan in a research report on Thursday, September 10th. BMO Capital Markets lifted their price objective on shares of Navan from $22.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, June 11th. Finally, Citizens Jmp reiterated a "market outperform" rating and issued a $38.00 target price on shares of Navan in a report on Thursday, September 10th. One investment 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 company has an average rating of "Moderate Buy" and a consensus price target of $30.50.

Insider Activity

In related news, major shareholder Lightspeed Venture Partners Se sold 10,569 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $24.65, for a total value of $260,525.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Michael Sindicich sold 2,176 shares of the business's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $21.06, for a total transaction of $45,826.56. Following the sale, the president directly owned 548,318 shares in the company, valued at approximately $11,547,577.08. This trade represents a 0.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 481,362 shares of company stock valued at $13,785,926. 63.39% of the stock is currently owned by insiders.

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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