Navan, Inc. $NAVN Shares Bought by Teachers Retirement System of The State of Kentucky

Key Points

• Teachers Retirement System of The State of Kentucky increased its Navan stake by 812% in the first quarter, ending with 118,875 shares worth about $1.57 million.
• Navan reported strong quarterly results, posting earnings of $0.08 per share versus expectations for a loss and revenue of $220.23 million, up 39.8% year over year.
• Analysts remain upbeat on the stock, with several raising price targets to $30 and the consensus rating sitting at Moderate Buy; meanwhile, insiders have sold shares recently, including the president and a director.

Teachers Retirement System of The State of Kentucky raised its stake in Navan, Inc. (NASDAQ:NAVN - Free Report) by 812.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 118,875 shares of the company's stock after purchasing an additional 105,841 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Navan were worth $1,574,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Navan during the fourth quarter worth about $270,000. FNY Investment Advisers LLC acquired a new stake in Navan during the fourth quarter valued at approximately $115,000. Lunate Capital Ltd acquired a new stake in Navan during the fourth quarter valued at approximately $3,416,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Navan during the 4th quarter worth approximately $256,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Navan during the 4th quarter worth approximately $257,000.

Insider Buying and Selling

In other news, President Michael Eric Sindicich sold 2,176 shares of Navan stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $21.06, for a total transaction of $45,826.56. Following the sale, the president owned 548,318 shares of the company's stock, valued at approximately $11,547,577.08. The trade was a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Arif Janmohamed sold 77,323 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $19.06, for a total value of $1,473,776.38. Following the completion of the transaction, the director directly owned 2,280,989 shares of the company's stock, valued at $43,475,650.34. This trade represents a 3.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 5,139,153 shares of company stock valued at $102,867,420 in the last ninety days. Insiders own 63.39% of the company's stock.

Navan Stock Down 2.0%

Navan stock opened at $25.29 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31. Navan, Inc. has a one year low of $8.10 and a one year high of $28.22. The company has a 50-day simple moving average of $21.66 and a 200-day simple moving average of $15.98. The firm has a market capitalization of $6.43 billion and a P/E ratio of -11.76.

Navan (NASDAQ:NAVN - Get Free Report) last issued its quarterly earnings data on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.20. The firm had revenue of $220.23 million during the quarter. The business's quarterly revenue was up 39.8% compared to the same quarter last year. As a group, equities analysts expect that Navan, Inc. will post -0.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NAVN shares. Oppenheimer set a $30.00 price target on Navan in a report on Thursday, June 11th. BTIG Research boosted their target price on shares of Navan from $26.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Mizuho increased their target price on shares of Navan from $25.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, June 11th. Rosenblatt Securities raised their price target on shares of Navan from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $30.00 price target on shares of Navan in a report on Monday, June 22nd. One 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Navan presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.07.

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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