Navan Inc (NAVN): $15.11
Market Cap: $3.76B
Enterprise Value: $3.20B
Introduction
As we begin to head into the holidays, it’s been interesting to see that the number of insider transactions have remained elevated in what would be a typical quiet period before earnings. A number of fascinating insider purchases showed up on our radar last week – including the famous activist investor Jeff Smith buying nearly $111 million worth of Kenvue (KVUE) stock for Starboard Value. The Tylenol maker has seen a number of activists get involved over the course of the last year (including TOMS Capital Investment and Third Point) due to the company’s deteriorating growth and weak margins, and many of these activists finally broke even on their positions when Kenvue agreed to be acquired by Kimberly-Clark (KMB).