Shares of Asana, Inc. (NYSE:ASAN – Get Free Report) gapped down before the market opened on Tuesday after Morgan Stanley lowered their price target on the stock from $19.00 to $15.00. The stock had previously closed at $13.53, but opened at $13.10. Morgan Stanley currently has an equal weight rating on the stock. Asana shares last traded at $13.41, with a volume of 165,936 shares.
Other analysts have also issued research reports about the stock. HSBC raised shares of Asana from a “reduce” rating to a “hold” rating and cut their price objective for the stock from $16.00 to $14.00 in a research report on Monday, June 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 price objective on shares of Asana in a research report on Monday, July 15th. Piper Sandler decreased their target price on Asana from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. UBS Group decreased their price objective on Asana from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Finally, Oppenheimer decreased their target price on shares of Asana from $28.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.67.
Insider Activity at Asana
In related news, CFO Tim M. Wan sold 28,856 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $11.44, for a total transaction of $330,112.64. Following the completion of the transaction, the chief financial officer now directly owns 1,050,284 shares in the company, valued at approximately $12,015,248.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Tim M. Wan sold 28,856 shares of Asana stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $11.44, for a total transaction of $330,112.64. Following the sale, the chief financial officer now directly owns 1,050,284 shares of the company’s stock, valued at $12,015,248.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Tim M. Wan sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $15.00, for a total transaction of $150,000.00. Following the completion of the transaction, the chief financial officer now owns 1,050,284 shares of the company’s stock, valued at $15,754,260. The disclosure for this sale can be found here. Insiders have sold 84,443 shares of company stock valued at $1,026,976 over the last ninety days. 63.97% of the stock is owned by corporate insiders.
Institutional Trading of Asana
Several institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC lifted its holdings in Asana by 327.9% in the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after buying an additional 2,220 shares during the period. Edmond DE Rothschild Holding S.A. raised its position 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 worth $61,000 after acquiring an additional 669 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in shares of Asana in the 2nd quarter valued at about $65,000. Daiwa Securities Group Inc. boosted its holdings 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 worth $70,000 after buying an additional 1,028 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Asana by 139.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,673 shares of the company’s stock worth $93,000 after acquiring an additional 3,885 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors.
Asana Stock Up 0.3 %
The company has a market cap of $3.10 billion, a P/E ratio of -11.60 and a beta of 1.16. The stock’s 50-day moving average price is $13.40 and its 200-day moving average price is $15.07. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.13.
Asana (NYSE:ASAN – Get Free Report) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. Asana had a negative return on equity of 77.48% and a negative net margin of 38.55%. The firm had revenue of $172.45 million during the quarter, compared to analysts’ expectations of $168.53 million. As a group, research analysts forecast that Asana, Inc. will post -1.05 EPS for the current year.
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.