Asana’s (ASAN) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of Asana (NYSE:ASAN) in a research report report published on Monday, Benzinga reports. They currently have a $27.00 price objective on the stock.

Several other equities analysts have also weighed in on ASAN. HSBC upgraded shares of Asana from a reduce rating to a hold rating and dropped their price objective for the company from $16.00 to $14.00 in a report on Monday, June 3rd. Jefferies Financial Group lowered their target price on shares of Asana from $17.00 to $16.00 and set a hold rating on the stock in a report on Friday, May 31st. Oppenheimer lowered their target price on shares of Asana from $28.00 to $23.00 and set an outperform rating on the stock in a report on Friday, May 31st. UBS Group lowered their target price 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. Finally, Citigroup lowered their target price on shares of Asana from $17.00 to $15.00 and set a neutral rating on the stock in a report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Asana has an average rating of Hold and a consensus price target of $18.17.

Asana Price Performance

ASAN stock opened at $14.41 on Monday. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of -12.32 and a beta of 1.16. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.13. Asana has a 12-month low of $11.29 and a 12-month high of $24.81. The company’s fifty day simple moving average is $13.76 and its 200 day simple moving average is $15.84.

Asana (NYSE:ASAN) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.02. Asana had a negative net margin of 38.55% and a negative return on equity of 77.48%. The firm had revenue of $172.45 million for the quarter, compared to analyst estimates of $168.53 million. On average, analysts expect that Asana will post -1.05 earnings per share for the current year.

Insider Activity

In other news, CFO Tim M. Wan sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 24th. 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 directly owns 753,888 shares of the company’s stock, valued at approximately $11,308,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Tim M. Wan sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 24th. 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 directly owns 753,888 shares of the company’s stock, valued at approximately $11,308,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Tim M. Wan sold 28,856 shares of the 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 transaction, the chief financial officer now directly owns 1,050,284 shares of the company’s stock, valued at $12,015,248.96. The disclosure for this sale can be found here. Insiders sold 89,443 shares of company stock valued at $1,101,976 in the last three months. Company insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. boosted its holdings in 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 buying an additional 669 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Asana by 2.3% in 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 in the last quarter. Kingsview Wealth Management LLC lifted its stake in Asana by 4.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,319 shares of the company’s stock worth $386,000 after purchasing an additional 828 shares in the last quarter. Diversified Trust Co lifted its stake in Asana by 4.3% in the 4th quarter. Diversified Trust Co now owns 21,435 shares of the company’s stock worth $407,000 after purchasing an additional 875 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in Asana by 12.1% in the 1st quarter. ProShare Advisors LLC now owns 15,838 shares of the company’s stock worth $245,000 after purchasing an additional 1,710 shares in the last quarter. 26.21% of the stock is owned by institutional investors.

Asana Company Profile

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.