Menlo Park, CA – Lightspeed Opportunity Fund, L.P., an entity collectively recognized as a ten percent owner within the Lightspeed-affiliated group holding Navan, Inc. (NASDAQ: NAVN), reported the disposal of approximately $40.8 million in Class A Common Stock. The sales were executed over a four-day window between June 12 and June 15, 2026. The transactions were carried out at prices ranging from $19.77 to $20.91 per share. This liquidation activity follows a period of significant price appreciation for Navan, which delivered a 56% return over the preceding six months. At the time of reporting, Navan shares were trading at $20.10, reflecting a market capitalization of $5.1 billion. According to InvestingPro analysis, the stock appears slightly overvalued relative to its Fair Value. For deeper insights into Navan’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available for this and 1,400+ other US equities.
The fund disposed of a total of 2,024,131 shares of Navan Class A Common Stock. On June 12, the fund sold 197,748 shares at a weighted average price of $19.77, 822,069 shares at a weighted average price of $20.06, and 83 shares at a weighted average price of $20.91. On June 15, an additional 573,572 shares were sold at a weighted average price of $20.19, followed by 430,659 shares at a weighted average price of $20.62.
Separately, on June 11, other Lightspeed entities engaged in pro rata, in-kind distributions of Navan Class A Common Stock. Lightspeed Venture Partners X, L.P. distributed 3,504,825 shares, and Lightspeed Venture Partners Select II, L.P. distributed 2,228,940 shares. These transactions were distributions to their respective general and limited partners and did not involve a purchase or sale of securities for consideration. Navan Follow Analyze NAVN Included in our AI-picked strategies Review strategies 20.10 ▲+0.17(+0.85%) Closed·15:59:59·USD 20.02 ▼-0.08(-0.40%) After Hours·20:18:10 1D 1W 1M 6M 1Y 5Y Max Created with Highcharts 11.4.8 14:00 15:00 16:00 17:00 18:00 19:00 19.5 20 20.5 Analyze NAVN This Form 4 filing, submitted by multiple Lightspeed entities including Lightspeed Venture Partners X, L.P., Lightspeed Affiliates X, L.P., and Lightspeed Opportunity Fund, L.P., reflects their collective ownership and recent transactions in Navan.
In other recent news, Navan Inc. has reported impressive first-quarter results, which have led several analyst firms to raise their price targets for the company. Navan’s first-quarter revenue grew 40% year-over-year to $220 million, surpassing Rosenblatt’s estimates by approximately 7%. The company also reported a significant increase in gross booking value, which grew by 50% year-over-year, exceeding consensus estimates. Mizuho and Needham both raised their price targets to $30, citing the strong revenue and gross booking growth as key factors in their decision.
Rosenblatt increased its price target to $27, while Jefferies raised its target to $26, highlighting the company’s performance in surpassing revenue and gross booking value expectations. TD Cowen also adjusted its price target to $29, noting Navan’s raised full-year guidance and improved fiscal 2027 growth and margin midpoints. Additionally, Navan has expanded its client base, now serving 45 Fortune 500 corporations, up from 28 in the previous year. These recent developments reflect Navan’s accelerating growth and positive reception from analysts.