Navan (NASDAQ:NAVN) Reaches New 1-Year Low – Here’s What Happened

Navan, Inc. (NASDAQ:NAVNGet Free Report) shares hit a new 52-week low during trading on Friday . The stock traded as low as $8.13 and last traded at $8.2350, with a volume of 601833 shares changing hands. The stock had previously closed at $9.09.

Trending Headlines about Navan

Here are the key news stories impacting Navan this week:

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NAVN shares. The Goldman Sachs Group reduced their target price on Navan from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Morgan Stanley reissued an “overweight” rating and issued a $20.00 price target on shares of Navan in a report on Tuesday, December 16th. Rosenblatt Securities restated a “buy” rating and set a $30.00 price objective on shares of Navan in a research report on Friday, December 12th. Zacks Research raised shares of Navan to a “hold” rating in a report on Friday, December 26th. Finally, Mizuho began coverage on shares of Navan in a research report on Monday, November 24th. They issued an “outperform” rating and a $25.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.42.

Read Our Latest Stock Report on NAVN

Navan Price Performance

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 stock has a market capitalization of $2.21 billion and a PE ratio of -4.53. The company has a 50 day moving average of $11.39.

Insiders Place Their Bets

In other Navan news, Director Benjamin A. Horowitz bought 466,058 shares of the stock in a transaction on Friday, January 2nd. The shares were bought at an average price of $16.27 per share, with a total value of $7,582,763.66. Following the purchase, the director directly owned 7,789,538 shares in the company, valued at $126,735,783.26. This trade represents a 6.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen bought 466,058 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were acquired at an average cost of $16.27 per share, with a total value of $7,582,763.66. Following the acquisition, the insider directly owned 7,789,538 shares of the company’s stock, valued at approximately $126,735,783.26. This represents a 6.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 4,159,692 shares of company stock worth $67,003,327 and sold 43,174 shares worth $463,174.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cosmic Management LLC acquired a new position in shares of Navan during the 4th quarter worth approximately $121,930,000. Invesco Ltd. acquired a new stake in shares of Navan in the fourth quarter valued at approximately $382,000. Alberta Investment Management Corp acquired a new stake in shares of Navan in the fourth quarter valued at approximately $3,416,000. State of Tennessee Department of Treasury purchased a new position in Navan during the fourth quarter worth approximately $369,000. Finally, XTX Topco Ltd acquired a new position in Navan during the fourth quarter worth $410,000.

About Navan

(Get Free Report)

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.

Further Reading

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