Navan, Inc. $NAVN Shares Sold by FNY Investment Advisers LLC

Key Points

• FNY Investment Advisers cut its Navan stake by 82.8% in the second quarter, selling 60,251 shares and retaining 12,500 shares valued at approximately $285,000. Other major institutional investors, including Lightspeed Management and a16z, established sizable positions during the fourth quarter.
• Navan reported quarterly revenue of $220.23 million, up 39.8% year over year, and earnings of $0.08 per share, beating estimates by $0.20. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $29.07.
• Insiders have sold 5.14 million shares worth $102.9 million over the past 90 days, while insiders retain a 63.39% ownership stake. NAVN recently traded near $29.08, close to its one-year high of $29.42.

FNY Investment Advisers LLC decreased its position in Navan, Inc. (NASDAQ:NAVN - Free Report) by 82.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,500 shares of the company's stock after selling 60,251 shares during the quarter. FNY Investment Advisers LLC's holdings in Navan were worth $285,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Lightspeed Management Company L.L.C. acquired a new position in Navan during the 4th quarter worth approximately $852,658,000. a16z Capital Management L.L.C. acquired a new stake in shares of Navan in the 4th quarter valued at $464,497,000. Greenoaks Capital Partners LLC purchased a new stake in shares of Navan during the 4th quarter worth $274,088,000. Cosmic Management LLC purchased a new stake in shares of Navan during the 4th quarter worth $121,930,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd acquired a new position in shares of Navan during the fourth quarter worth $100,332,000.

Insider Buying and Selling

In other news, Director Arif Janmohamed sold 77,323 shares of Navan stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.06, for a total value of $1,473,776.38. Following the transaction, the director directly owned 2,280,989 shares of the company's stock, valued at $43,475,650.34. The trade was a 3.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Ilan Ezra Twig sold 24,726 shares of the company'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 $520,729.56. Following the completion of the sale, the chief technology officer owned 805,860 shares of the company's stock, valued at approximately $16,971,411.60. This trade represents a 2.98% decrease in their position. 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 have sold 5,139,153 shares of company stock valued at $102,867,420 in the last 90 days. Company insiders own 63.39% of the company's stock.

Navan Stock Performance

Shares of NAVN stock opened at $29.08 on Friday. The stock's 50-day moving average is $24.14 and its two-hundred day moving average is $17.12. 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 1 year low of $8.10 and a 1 year high of $29.42. The firm has a market cap of $7.40 billion and a price-to-earnings ratio of -13.53.

Navan (NASDAQ:NAVN - Get Free Report) last posted its earnings results 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 firm's quarterly revenue was up 39.8% compared to the same quarter last year. Analysts predict that Navan, Inc. will post -0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NAVN. BNP Paribas Exane raised their price target on Navan from $27.00 to $30.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. TD Cowen upped their price objective on Navan from $28.00 to $29.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Bank of America increased their price objective on Navan from $20.00 to $26.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Citigroup reissued an "outperform" rating on shares of Navan in a research report on Thursday, June 11th. Finally, Morgan Stanley boosted their target price on Navan from $25.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, June 11th. One equities research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Navan presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.07.

Navan 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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