Asana (NYSE:ASAN) PT Lowered to $16.00

Asana (NYSE:ASAN) had its target price trimmed by Bank of America from $18.00 to $16.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also commented on ASAN. KeyCorp lowered their price target on shares of Asana from $14.00 to $13.00 and set an underweight rating for the company in a research report on Friday, May 31st. Piper Sandler cut their price target on shares of Asana from $16.00 to $14.00 and set a neutral rating for the company in a report on Friday, July 12th. JMP Securities reaffirmed a market outperform rating and set a $27.00 target price on shares of Asana in a research report on Monday, July 15th. UBS Group dropped their target price on shares of Asana from $20.00 to $17.00 and set a neutral rating on the stock in a research report on Friday, May 24th. Finally, Jefferies Financial Group decreased their price objective on Asana from $17.00 to $16.00 and set a hold rating for the company in a research report on Friday, May 31st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $14.67.

Asana Stock Down 6.4 %

Shares of Asana stock opened at $11.78 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $13.64 and a 200 day moving average price of $14.62. Asana has a fifty-two week low of $11.29 and a fifty-two week high of $23.44. The firm has a market cap of $2.69 billion, a P/E ratio of -10.07 and a beta of 1.16.

Asana (NYSE:ASAN) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $179.21 million for the quarter, compared to analysts’ expectations of $177.68 million. Asana had a negative return on equity of 77.48% and a negative net margin of 38.55%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the business posted ($0.31) earnings per share. On average, sell-side analysts forecast that Asana will post -1.05 earnings per share for the current fiscal year.

Insider Transactions at Asana

In other news, insider Eleanor B. Lacey sold 4,999 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $12.95, for a total transaction of $64,737.05. Following the transaction, the insider now owns 384,150 shares in the company, valued at approximately $4,974,742.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Anne Raimondi sold 26,588 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $11.44, for a total value of $304,166.72. Following the sale, the chief operating officer now directly owns 790,894 shares in the company, valued at approximately $9,047,827.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eleanor B. Lacey sold 4,999 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $12.95, for a total value of $64,737.05. Following the completion of the transaction, the insider now directly owns 384,150 shares of the company’s stock, valued at $4,974,742.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,443 shares of company stock worth $1,026,976. Insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

Large investors have recently made changes to their positions in the business. Edmond DE Rothschild Holding S.A. increased its stake in shares of Asana by 26.2% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock valued at $61,000 after buying an additional 669 shares during the period. Arizona State Retirement System lifted its holdings in Asana by 3.6% in the second quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock valued at $327,000 after buying an additional 803 shares during the period. Kingsview Wealth Management LLC boosted its stake in Asana by 4.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 20,319 shares of the company’s stock valued at $386,000 after acquiring an additional 828 shares during the last quarter. Diversified Trust Co grew its holdings in Asana by 2.6% during the 2nd quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock worth $489,000 after acquiring an additional 900 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of Asana by 26.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after acquiring an additional 1,028 shares during the last quarter. Institutional investors own 26.21% of the company’s stock.

About Asana

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.