Ariel Cohen Sells 50,647 Shares of Navan (NASDAQ:NAVN) Stock

Key Points

• CEO Ariel Cohen sold 50,647 Navan shares for approximately $1.08 million at an average price of $21.27, reducing his direct ownership by 4.66% to 1,035,595 shares. The sale covered tax withholding obligations tied to vested equity awards.
• Navan shares fell 6.2% to $19.66, despite the company reporting quarterly EPS of $0.05 versus the expected loss of $0.12 and 35.4% year-over-year revenue growth to $232.79 million.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $30.50, compared with its current price.

Navan, Inc. (NASDAQ:NAVN - Get Free Report) CEO Ariel Cohen sold 50,647 shares of Navan stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $21.27, for a total value of $1,077,261.69. Following the completion of the sale, the chief executive officer directly owned 1,035,595 shares in the company, valued at approximately $22,027,105.65. This represents a 4.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Navan Stock Down 6.2%

Shares of NAVN traded down $1.31 during mid-day trading on Wednesday, reaching $19.66. The company had a trading volume of 4,543,238 shares, compared to its average volume of 4,724,609. 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's 50 day simple moving average is $26.33 and its 200 day simple moving average is $20.64. Navan, Inc. has a 1-year low of $8.10 and a 1-year high of $30.88.

Navan (NASDAQ:NAVN - Get Free Report) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.17. The business had revenue of $232.79 million during 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. On average, sell-side analysts forecast that Navan, Inc. will post -0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NAVN. Bank of America increased their price target on Navan from $26.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. TD Cowen lowered their price objective on shares of Navan from $34.00 to $31.00 and set a "buy" rating for the company in a research note on Thursday, September 10th. Needham & Company LLC restated a "buy" rating on shares of Navan in a report on Thursday, September 10th. BNP Paribas Exane upped their price objective on shares of Navan from $27.00 to $30.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and issued a $38.00 target price on shares of Navan in a research 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 assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $30.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new stake in Navan in the 2nd quarter worth about $25,000. Orion Capital Management LLC purchased a new position in shares of Navan in the second quarter worth about $54,000. EMC Capital Management bought a new stake in shares of Navan in the second quarter valued at approximately $114,000. Sunbelt Securities Inc. bought a new stake in shares of Navan in the first quarter valued at approximately $71,000. Finally, Versant Capital Management Inc lifted its stake in shares of Navan by 23.2% during the 2nd quarter. Versant Capital Management Inc now owns 5,785 shares of the company's stock valued at $132,000 after buying an additional 1,091 shares in the last quarter.

Navan Company 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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