Asana (NYSE:ASAN) PT Lowered to $14.00 at Piper Sandler

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

Several other research analysts also recently commented on the company. Oppenheimer dropped their price target on Asana from $28.00 to $23.00 and set an outperform rating on the stock in a research report on Friday, May 31st. Citigroup dropped their target price on shares of Asana from $17.00 to $15.00 and set a neutral rating on the stock in a research report on Wednesday, June 26th. UBS Group reduced their price target on shares of Asana from $20.00 to $17.00 and set a neutral rating for the company in a report on Friday, May 24th. Jefferies Financial Group dropped their price objective 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. Finally, HSBC raised shares of Asana from a reduce rating to a hold rating and cut their price objective for the company from $16.00 to $14.00 in a research report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $18.17.

Asana Trading Up 0.4 %

NYSE:ASAN opened at $13.58 on Friday. 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 has a market capitalization of $3.10 billion, a P/E ratio of -11.61 and a beta of 1.16. Asana has a 52 week low of $11.29 and a 52 week high of $24.81. The stock’s 50 day moving average price is $13.83 and its 200 day moving average price is $15.93.

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

Insider Buying and Selling at Asana

In other Asana news, CFO Tim M. Wan sold 28,856 shares of Asana stock in a transaction on Thursday, June 20th. The stock was 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 of the company’s stock, valued at $12,015,248.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Eleanor B. Lacey sold 9,000 shares of the business’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 $102,960.00. Following the transaction, the insider now directly owns 389,149 shares of the company’s stock, valued at approximately $4,451,864.56. The sale was disclosed in a document filed 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 stock was sold at an average price of $11.44, for a total value of $330,112.64. Following the sale, the chief financial officer now owns 1,050,284 shares in the company, valued at $12,015,248.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,443 shares of company stock valued at $1,101,976. 63.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Asana

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. grew its stake in shares of Asana by 26.2% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock valued at $61,000 after purchasing an additional 669 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position 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 valued at $689,000 after buying an additional 808 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in Asana by 4.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,319 shares of the company’s stock valued at $386,000 after buying an additional 828 shares during the last quarter. Diversified Trust Co increased its stake in shares of Asana by 4.3% in the 4th quarter. Diversified Trust Co now owns 21,435 shares of the company’s stock valued at $407,000 after buying an additional 875 shares during the period. Finally, Sunbelt Securities Inc. raised its position in shares of Asana by 2.6% during the third quarter. Sunbelt Securities Inc. now owns 44,296 shares of the company’s stock worth $811,000 after acquiring an additional 1,114 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

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.