Michael Eric Sindicich Sells 9,349 Shares of Navan (NASDAQ:NAVN) Stock

Key Points

• President Michael Eric Sindicich sold 9,349 shares of Navan on Jan. 28 at an average price of $13.86 for proceeds of $129,577, reducing his ownership by 2.92% to 310,514 shares valued at about $4.30 million.
• Navan shares plunged about 9.3% to $11.48 on heavy volume (2.83M), trading near its 52-week low ($11.40) with a market cap of roughly $2.85 billion and a negative trailing P/E.
• Wall Street sentiment is broadly positive: analysts’ consensus is a “Moderate Buy” with an average price target of $24.42, supported by several recent Outperform/Buy ratings.

Navan, Inc. (NASDAQ:NAVN - Get Free Report) President Michael Eric Sindicich sold 9,349 shares of the company's stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $13.86, for a total transaction of $129,577.14. Following the transaction, the president owned 310,514 shares of the company's stock, valued at $4,303,724.04. This represents a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Navan Stock Down 9.3%

Shares of NASDAQ NAVN traded down $1.18 during trading on Friday, hitting $11.48. The company had a trading volume of 2,830,675 shares, compared to its average volume of 1,894,265. Navan, Inc. has a fifty-two week low of $11.40 and a fifty-two week high of $22.75. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.14. The firm's fifty day simple moving average is $15.38. The firm has a market capitalization of $2.85 billion and a price-to-earnings ratio of -5.86.

Wall Street Analysts Forecast Growth

NAVN has been the topic of several research reports. Oppenheimer assumed coverage on shares of Navan in a research note on Monday, November 24th. They issued an "outperform" rating and a $25.00 price target on the stock. BNP Paribas Exane set a $24.00 target price on shares of Navan in a research note on Monday, November 24th. Jefferies Financial Group set a $20.00 price target on Navan in a research report on Tuesday, December 16th. Loop Capital upgraded Navan to a "strong-buy" rating in a research report on Monday, November 24th. Finally, Mizuho began coverage on Navan in a research note on Monday, November 24th. They set an "outperform" rating and a $25.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $24.42.

Hedge Funds Weigh In On Navan

Institutional investors have recently modified their holdings of the business. FNY Investment Advisers LLC purchased a new position in shares of Navan in the 4th quarter valued at approximately $115,000. Teachers Retirement System of The State of Kentucky acquired a new position in Navan during the fourth quarter worth about $223,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Navan during the fourth quarter worth $256,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Navan during the 4th quarter worth about $257,000. Finally, SG Americas Securities LLC purchased a new stake in Navan in the 4th quarter valued at about $270,000.

About Navan

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.

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