Michael Eric Sindicich Sells 8,977 Shares of Navan (NASDAQ:NAVN) Stock

Key Points

• Navan President Michael Sindicich sold 8,977 shares at an average price of $21.27, generating approximately $190,941. The sale covered tax withholding obligations tied to vested equity awards and reduced his position by 1.64%.
• Navan shares fell 6.2% to $19.66 during Wednesday trading. Despite the decline, the company reported quarterly revenue of $232.79 million, up 35.4% year over year, and adjusted earnings of $0.05 per share, beating estimates.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $30.50. Institutional investors have also recently established several large positions in the company.

Navan, Inc. (NASDAQ:NAVN - Get Free Report) President Michael Sindicich sold 8,977 shares of the business's stock in a transaction on Monday, September 21st. The stock was sold at an average price of $21.27, for a total transaction of $190,940.79. Following the transaction, the president directly owned 539,341 shares of the company's stock, valued at approximately $11,471,783.07. This represents a 1.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Navan Stock Down 6.2%

Shares of NASDAQ:NAVN traded down $1.31 during midday trading on Wednesday, hitting $19.66. The company's stock 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 stock's 50 day simple moving average is $26.33 and its 200 day simple moving average is $20.64. Navan, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $30.88.

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

Institutional Trading of Navan

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cosmic Management LLC bought a new position in shares of Navan in the fourth quarter valued at about $121,930,000. Napean Trading & Investment Co Singapore PTE Ltd bought a new position in shares of Navan in the fourth quarter worth about $100,332,000. Alkeon Capital Management LLC acquired a new position in shares of Navan during the fourth quarter worth approximately $45,891,000. Capital International Investors bought a new stake in shares of Navan during the fourth quarter valued at approximately $41,557,000. Finally, Dragoneer Investment Group LLC acquired a new stake in shares of Navan in the fourth quarter valued at approximately $35,791,000.

Analysts Set New Price Targets

NAVN has been the subject of a number of analyst reports. TD Cowen cut their price target 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. BTIG Research reiterated a "buy" rating and set a $30.00 price objective on shares of Navan in a research note on Thursday, September 10th. Needham & Company LLC restated a "buy" rating on shares of Navan in a research note on Thursday, September 10th. Mizuho increased their target price on shares of Navan from $25.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, June 11th. Finally, BNP Paribas Exane boosted their price target on shares of Navan from $27.00 to $30.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.50.

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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