Navan (NASDAQ:NAVN) CTO Ilan Ezra Twig Sells 36,040 Shares of Stock

Key Points

• Navan CTO Ilan Twig sold 36,040 shares at an average price of $21.27, generating approximately $766,571. The sale was made to cover tax withholding tied to vested equity awards, leaving him with 769,820 shares.
• Navan shares fell 6.2% to $19.66 during Wednesday trading, while the stock’s 52-week range was $8.10 to $30.88.
• Navan reported quarterly revenue of $232.79 million, up 35.4% year over year, and EPS of $0.05 versus analyst expectations for a $0.12 loss. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $30.50.

Navan, Inc. (NASDAQ:NAVN - Get Free Report) CTO Ilan Twig sold 36,040 shares of the firm's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $21.27, for a total transaction of $766,570.80. Following the completion of the sale, the chief technology officer owned 769,820 shares in the company, valued at $16,374,071.40. This represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Navan Stock Down 6.2%

NASDAQ:NAVN traded down $1.31 during mid-day trading on Wednesday, hitting $19.66. 4,543,238 shares of the company's stock traded hands, 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 has a fifty day moving average of $26.33 and a 200 day moving average of $20.64. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $30.88.

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

Institutional Trading of Navan

A number of institutional investors and hedge funds have recently modified their holdings of NAVN. Integrated Wealth Concepts LLC purchased a new stake in Navan in the 2nd quarter valued at $25,000. Corient Private Wealth LP acquired a new position in shares of Navan during the 2nd quarter valued at about $1,310,000. Orion Capital Management LLC purchased a new stake in shares of Navan in the second quarter valued at about $54,000. EMC Capital Management acquired a new stake in Navan during the second quarter worth about $114,000. Finally, Handelsbanken Fonder AB acquired a new stake in Navan during the second quarter worth about $579,000.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NAVN shares. Mizuho increased their price objective on Navan from $25.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, June 11th. Needham & Company LLC reiterated a "buy" rating on shares of Navan in a report on Thursday, September 10th. Oppenheimer lifted their price objective on shares of Navan from $30.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, August 27th. Jefferies Financial Group increased their price objective on shares of Navan from $18.00 to $26.00 and gave the stock a "buy" rating in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group raised shares of Navan from a "buy" rating to a "buy" rating in a report on Monday, June 8th. 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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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