Asana (NYSE:ASAN) PT Lowered to $14.00

Asana (NYSE:ASAN) had its price objective decreased by Piper Sandler from $16.00 to $14.00 in a research note published on Friday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other research firms also recently commented on ASAN. KeyCorp reduced their price objective on Asana from $14.00 to $13.00 and set an underweight rating for the company in a research note on Friday, May 31st. Citigroup decreased their price target on shares of Asana from $17.00 to $15.00 and set a neutral rating on the stock in a research note on Wednesday, June 26th. Jefferies Financial Group dropped their price objective on shares of Asana from $17.00 to $16.00 and set a hold rating for the company in a research note on Friday, May 31st. 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 note on Friday, May 31st. Finally, UBS Group cut their price target on Asana from $20.00 to $17.00 and set a neutral rating for the company in a report on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Asana presently has an average rating of Hold and a consensus price target of $18.17.

Asana Stock Performance

Shares of NYSE ASAN opened at $13.91 on Friday. The company has a market capitalization of $3.17 billion, a PE ratio of -11.89 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.71 and a current ratio of 1.71. The company’s fifty day moving average price is $13.79 and its 200 day moving average price is $15.89. Asana has a 1 year low of $11.29 and a 1 year high of $24.81.

Asana (NYSE:ASAN) last posted its earnings results on Thursday, May 30th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. The firm had revenue of $172.45 million for the quarter, compared to analysts’ expectations of $168.53 million. Asana had a negative return on equity of 77.48% and a negative net margin of 38.55%. On average, research analysts predict that Asana will post -1.04 earnings per share for the current year.

Insider Activity

In other Asana news, insider Eleanor B. Lacey sold 9,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $11.44, for a total value of $102,960.00. Following the completion of the transaction, the insider now owns 389,149 shares in the company, valued at $4,451,864.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Eleanor B. Lacey sold 9,000 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 $102,960.00. Following the completion of the transaction, the insider now owns 389,149 shares in the company, valued at approximately $4,451,864.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tim M. Wan sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the sale, the chief financial officer now owns 753,888 shares in the company, valued at $11,308,320. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,443 shares of company stock valued at $1,101,976. 63.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Asana

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Asana by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock valued at $144,462,000 after buying an additional 490,823 shares in the last quarter. Champlain Investment Partners LLC lifted its position in Asana by 26.9% in the first quarter. Champlain Investment Partners LLC now owns 4,032,035 shares of the company’s stock valued at $62,456,000 after acquiring an additional 854,355 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Asana by 15.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock valued at $33,891,000 after acquiring an additional 235,135 shares in the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Asana during the fourth quarter worth about $25,246,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Asana by 6.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 696,277 shares of the company’s stock valued at $13,236,000 after purchasing an additional 43,564 shares during the last quarter. Hedge funds and other 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.