Navan (NASDAQ:NAVN) Major Shareholder Lightspeed Venture Partners Se Sells 8,983 Shares

Key Points

• Lightspeed Venture Partners Se, a major shareholder in Navan, sold 8,983 shares on July 8 at an average price of $25.36, bringing in about $227,809.
• The sale extends a recent pattern of insider selling, with Lightspeed also disposing of large blocks in June and early July, including more than 1 million shares on June 15 and June 12.
• Navan’s stock was up 0.4% to $25.63, and the company recently beat earnings expectations with Q2 EPS of $0.08 versus an estimated loss, while revenue rose 39.8% year over year to $220.23 million.

Navan, Inc. (NASDAQ:NAVN - Get Free Report) major shareholder Lightspeed Venture Partners Se sold 8,983 shares of Navan stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $25.36, for a total transaction of $227,808.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Lightspeed Venture Partners Se also recently made the following trade(s):

• On Wednesday, July 1st, Lightspeed Venture Partners Se sold 10,569 shares of Navan stock. The shares were sold at an average price of $24.65, for a total transaction of $260,525.85.
• On Wednesday, June 17th, Lightspeed Venture Partners Se sold 77,323 shares of Navan stock. The stock was sold at an average price of $19.06, for a total transaction of $1,473,776.38.
• On Tuesday, June 16th, Lightspeed Venture Partners Se sold 398,546 shares of Navan stock. The shares were sold at an average price of $19.13, for a total transaction of $7,624,184.98.
• On Monday, June 15th, Lightspeed Venture Partners Se sold 1,004,231 shares of Navan stock. The stock was sold at an average price of $20.37, for a total value of $20,456,185.47.
• On Friday, June 12th, Lightspeed Venture Partners Se sold 1,019,900 shares of Navan stock. The stock was sold at an average price of $20.00, for a total value of $20,398,000.00.

Navan Trading Up 0.4%

Shares of Navan stock traded up $0.11 during trading hours on Thursday, hitting $25.63. The company's stock had a trading volume of 3,515,901 shares, compared to its average volume of 3,292,321. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $28.22. The firm has a fifty day moving average of $20.84 and a 200-day moving average of $15.62. The stock has a market cap of $6.52 billion and a price-to-earnings ratio of -11.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31.

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, beating the consensus estimate of ($0.12) by $0.20. The company had revenue of $220.23 million during the quarter. The business's revenue for the quarter was up 39.8% compared to the same quarter last year. Research analysts forecast that Navan, Inc. will post -0.37 EPS for the current year.

Analyst Upgrades and Downgrades

NAVN has been the topic of a number of research analyst reports. Mizuho boosted their target price on Navan from $25.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, June 11th. Jefferies Financial Group raised their price target on Navan from $18.00 to $26.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Rosenblatt Securities boosted their price objective on Navan from $20.00 to $24.00 and gave the company a "buy" rating in a report on Monday, June 8th. BTIG Research increased their target price on Navan from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, June 11th. Finally, Citizens Jmp raised their target price on Navan from $31.00 to $38.00 and gave the company a "market outperform" rating in a report on Thursday, June 11th. 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $28.64.

Institutional Trading of Navan

A number of large investors have recently made changes to their positions in the company. Versant Capital Management Inc boosted its position 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 worth $132,000 after acquiring an additional 1,091 shares in the last quarter. CTC Alternative Strategies Ltd. purchased a new stake in Navan during the first quarter worth approximately $177,000. Bank of America Corp DE lifted its stake in Navan by 733.7% during the first quarter. Bank of America Corp DE now owns 210,524 shares of the company's stock worth $2,787,000 after purchasing an additional 185,271 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Navan in the first quarter valued at approximately $367,000. Finally, Sunbelt Securities Inc. purchased a new position in Navan in the first quarter valued at approximately $71,000.

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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