Quantinno Capital Management LP Acquires Shares of 115,647 Navan, Inc. $NAVN

Key Points

• Quantinno Capital Management acquired 115,647 Navan shares during the first quarter, valued at approximately $1.53 million. Several other institutional investors also initiated positions in the company.
• Navan reported quarterly EPS of $0.08, beating the consensus estimate of a $0.12 loss, while revenue rose 39.8% year over year to $220.23 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $29.07.
• NAVN opened at $28.78, near its 12-month high of $29.88, despite a negative price-to-earnings ratio. Insiders have sold more than 5.1 million shares worth approximately $102.9 million over the past 90 days, though insiders still own 63.39% of the company.

Quantinno Capital Management LP acquired a new stake in Navan, Inc. (NASDAQ:NAVN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 115,647 shares of the company's stock, valued at approximately $1,531,000.

Several other institutional investors have also modified their holdings of NAVN. Royal Bank of Canada purchased a new position in Navan in the fourth quarter valued at $35,000. California State Teachers Retirement System purchased a new stake in Navan during the 4th quarter worth about $39,000. Russell Investments Group Ltd. purchased a new stake in Navan during the 4th quarter worth about $51,000. New York State Common Retirement Fund acquired a new position in shares of Navan during the 4th quarter worth about $101,000. Finally, Strs Ohio acquired a new position in shares of Navan during the 4th quarter worth about $113,000.

Navan Stock Down 0.5%

NAVN stock opened at $28.78 on Thursday. The company has a market cap of $7.32 billion and a price-to-earnings ratio of -13.39. The company has a fifty day moving average price of $24.51 and a 200 day moving average price of $17.44. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.31 and a quick ratio of 4.31. Navan, Inc. has a 12 month low of $8.10 and a 12 month high of $29.88.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NAVN. Weiss Ratings raised Navan from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday, June 12th. The Goldman Sachs Group raised Navan from a "buy" rating to a "buy" rating in a report on Monday, June 8th. BNP Paribas Exane raised their price objective on shares of Navan from $27.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Citigroup restated an "outperform" rating on shares of Navan in a research report on Thursday, June 11th. Finally, Jefferies Financial Group increased their target price on shares of Navan from $18.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. 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 given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $29.07.

Insider Buying and Selling

In other Navan news, CEO Ariel M. Cohen sold 41,530 shares of the 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 $874,621.80. Following the completion of the sale, the chief executive officer directly owned 1,254,731 shares of the company's stock, valued at approximately $26,424,634.86. This trade represents a 3.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 1,019,900 shares of Navan stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $20.00, for a total value of $20,398,000.00. Following the completion of the transaction, the director owned 3,761,089 shares in the company, valued at $75,221,780. This trade represents a 21.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 5,139,153 shares of company stock worth $102,867,420. Insiders own 63.39% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source