Asana (NYSE:ASAN) PT Lowered to $15.00 at Citigroup

Asana (NYSE:ASAN) had its target price trimmed by Citigroup from $17.00 to $15.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. Piper Sandler upgraded shares of Asana from an underweight rating to a neutral rating and decreased their price objective for the company from $18.00 to $16.00 in a report on Friday, May 31st. Jefferies Financial Group reduced their target price on Asana from $17.00 to $16.00 and set a hold rating for the company in a report on Friday, May 31st. HSBC raised Asana from a reduce rating to a hold rating and lowered their target price for the company from $16.00 to $14.00 in a research note on Monday, June 3rd. JMP Securities reissued a market outperform rating and issued a $27.00 target price on shares of Asana in a research report on Friday, May 31st. Finally, UBS Group cut their price target on shares of Asana from $20.00 to $17.00 and set a neutral rating on the stock in a report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Asana presently has a consensus rating of Hold and an average price target of $18.33.

Asana Stock Performance

NYSE:ASAN opened at $14.00 on Wednesday. The firm’s 50 day moving average is $14.14 and its two-hundred day moving average is $16.41. Asana has a fifty-two week low of $11.29 and a fifty-two week high of $24.81. 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 company has a market cap of $3.19 billion, a P/E ratio of -11.97 and a beta of 1.15.

Asana (NYSE:ASAN) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $168.53 million. Analysts expect that Asana will post -1.04 EPS for the current year.

Insiders Place Their Bets

In other Asana news, COO Anne Raimondi sold 26,588 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $11.44, for a total transaction of $304,166.72. Following the transaction, the chief operating officer now owns 790,894 shares of the company’s stock, valued at approximately $9,047,827.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Tim M. Wan sold 28,856 shares of the business’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 owns 1,050,284 shares in the company, valued at $12,015,248.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Anne Raimondi sold 26,588 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 value of $304,166.72. Following the transaction, the chief operating officer now owns 790,894 shares in the company, valued at $9,047,827.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,905 shares of company stock valued at $1,171,004. Insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

A number of hedge funds have recently modified their holdings of the business. Corton Capital Inc. boosted its position in Asana by 6.5% during the 3rd quarter. Corton Capital Inc. now owns 11,017 shares of the company’s stock worth $202,000 after acquiring an additional 669 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in Asana by 26.2% during the fourth 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. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Asana by 2.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,243 shares of the company’s stock worth $689,000 after purchasing an additional 808 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of Asana by 4.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 20,319 shares of the company’s stock worth $386,000 after acquiring an additional 828 shares during the period. Finally, Diversified Trust Co raised its position in shares of Asana by 4.3% in the fourth quarter. Diversified Trust Co now owns 21,435 shares of the company’s stock valued at $407,000 after purchasing an additional 875 shares during the period. Institutional investors and hedge funds 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.