Navan, Inc. $NAVN Stock Acquired by CenterBook Partners LP

Key Points

• CenterBook Partners increased its Navan stake by 94.5% in the third quarter, buying 43,291 shares to bring its total to 89,119 shares, valued at about $1.87 million.
• Navan reported quarterly revenue of $232.79 million, up 35.4% year over year, and earnings of $0.05 per share—beating analysts’ consensus estimate of a $0.12 loss per share.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $30.50. Insiders sold shares worth about $14.1 million over the past 90 days, though some sales were to cover taxes on vested equity awards.

CenterBook Partners LP increased its stake in shares of Navan, Inc. (NASDAQ:NAVN - Free Report) by 94.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,119 shares of the company's stock after purchasing an additional 43,291 shares during the period. CenterBook Partners LP's holdings in Navan were worth $1,871,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new stake in Navan in the 2nd quarter worth about $25,000. Orion Capital Management LLC purchased a new stake in Navan during the 2nd quarter worth approximately $54,000. Sunbelt Securities Inc. purchased a new stake in Navan during the 1st quarter worth approximately $71,000. Sterling Capital Management LLC raised its holdings in shares of Navan by 859.8% during the third quarter. Sterling Capital Management LLC now owns 3,513 shares of the company's stock valued at $74,000 after acquiring an additional 3,147 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Navan by 13.0% during the third quarter. Nisa Investment Advisors LLC now owns 3,650 shares of the company's stock valued at $77,000 after acquiring an additional 420 shares during the last quarter.

Insider Activity

In related news, CTO Ilan Twig sold 36,040 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $21.27, for a total value of $766,570.80. Following the completion of the sale, the chief technology officer owned 769,820 shares of the company's stock, valued at approximately $16,374,071.40. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Michael Sindicich sold 8,977 shares of Navan stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $21.27, for a total value of $190,940.79. Following the transaction, 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 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 sold 497,075 shares of company stock worth $14,101,088 over the last ninety days. Corporate insiders own 63.39% of the company's stock.

Navan Price Performance

Shares of NASDAQ NAVN opened at $25.48 on Monday. Navan, Inc. has a 12-month low of $8.10 and a 12-month high of $30.88. The stock has a market cap of $6.64 billion and a PE ratio of -5.04. The company has a current ratio of 4.38, a quick ratio of 4.38 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average of $24.09 and a 200 day moving average of $19.71.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NAVN. Weiss Ratings downgraded Navan from a "sell (d)" rating to a "sell (d-)" rating in a research report on Tuesday, September 22nd. BNP Paribas Exane boosted their price target on Navan from $27.00 to $30.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Oppenheimer increased their price objective on Navan from $30.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, August 27th. Wall Street Zen upgraded Navan from a "hold" rating to a "buy" rating in a report on Saturday, October 31st. Finally, Rosenblatt Securities raised their price objective on Navan from $27.00 to $29.00 and gave the company a "buy" rating in a report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.50.

About Navan

Navan, formerly known as TripActions, provides business travel and expense management software. Its platform brings together corporate travel booking and expense workflows, helping organizations manage employee travel and business spending.

The company's services include tools for booking flights, hotels and other travel, as well as expense reporting and payment capabilities. Navan also offers support for travelers and administrative tools intended to help businesses oversee travel policies and spending.

Founded in 2015 by Ariel Cohen and Ilan Twig, the company adopted the Navan name in 2023.

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