Asana (NYSE:ASAN) PT Lowered to $20.00 at Oppenheimer

Asana (NYSE:ASAN) had its price objective cut by Oppenheimer from $23.00 to $20.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently commented on the stock. Morgan Stanley lowered their price target on shares of Asana from $19.00 to $15.00 and set an equal weight rating for the company in a report on Tuesday, August 20th. Bank of America cut their price objective on shares of Asana from $18.00 to $16.00 and set a buy rating on the stock in a research report on Wednesday. Royal Bank of Canada reiterated an underperform rating and set a $10.00 price target on shares of Asana in a report on Wednesday. Piper Sandler cut their target price on Asana from $14.00 to $12.00 and set a neutral rating on the stock in a research note on Wednesday. Finally, Robert W. Baird decreased their target price on Asana from $20.00 to $13.00 and set a neutral rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Asana has a consensus rating of Hold and an average target price of $14.67.

Asana Price Performance

ASAN stock opened at $11.78 on Wednesday. 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 $2.69 billion, a PE ratio of -10.07 and a beta of 1.16. Asana has a one year low of $11.29 and a one year high of $23.44. The company’s fifty day moving average price is $13.64 and its 200-day moving average price is $14.62.

Asana (NYSE:ASAN) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. Asana had a negative return on equity of 77.48% and a negative net margin of 38.55%. The firm had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.68 million. During the same period in the prior year, the company earned ($0.31) EPS. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts anticipate that Asana will post -1.05 EPS for the current fiscal year.

Insider Buying and Selling at Asana

In related news, CFO Tim M. Wan sold 28,856 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 1,050,284 shares in the company, valued at approximately $12,015,248.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Tim M. Wan sold 5,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $15.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now directly owns 1,063,909 shares of the company’s stock, valued at $15,958,635. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 84,443 shares of company stock worth $1,026,976. 63.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Asana

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Asana by 5.6% during the first quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock worth $144,462,000 after buying an additional 490,823 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of Asana by 26.9% during the first quarter. Champlain Investment Partners LLC now owns 4,032,035 shares of the company’s stock worth $62,456,000 after purchasing an additional 854,355 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Asana by 15.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock worth $33,891,000 after purchasing an additional 235,135 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Asana during the 4th quarter worth about $25,246,000. Finally, Point72 Asset Management L.P. purchased a new position in Asana in the 2nd quarter valued at about $17,100,000. 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.