Asana, Inc. (NYSE:ASAN) Insider Sells $58,678.83 in Stock

Asana, Inc. (NYSE:ASAN) insider Eleanor B. Lacey sold 4,977 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $58,678.83. Following the completion of the transaction, the insider now owns 370,333 shares of the company’s stock, valued at $4,366,226.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Asana Trading Up 0.2 %

Asana stock opened at $11.72 on Friday. Asana, Inc. has a one year low of $11.05 and a one year high of $23.44. The company’s fifty day moving average price is $13.12 and its two-hundred day moving average price is $13.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -10.02 and a beta of 1.16.

Asana (NYSE:ASAN) last issued its quarterly earnings data 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 81.88% and a negative net margin of 37.73%. The business had revenue of $179.21 million for the quarter, compared to analyst estimates of $177.68 million. During the same quarter in the prior year, the firm posted ($0.31) EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts forecast that Asana, Inc. will post -1.14 earnings per share for the current fiscal year.

Asana declared that its board has approved a share buyback plan on Thursday, June 20th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ASAN shares. Bank of America reduced their price target on shares of Asana from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Citigroup reduced their target price on Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Oppenheimer lowered their price target on Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. UBS Group dropped their price target on Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, DA Davidson restated a “neutral” rating and set a $11.00 price objective (down from $14.00) on shares of Asana in a research report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.67.

Hedge Funds Weigh In On Asana

A number of institutional investors have recently modified their holdings of ASAN. Vanguard Group Inc. increased its stake in shares of Asana by 5.6% in the first quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock worth $144,462,000 after purchasing an additional 490,823 shares during the period. Champlain Investment Partners LLC increased its position in Asana by 26.9% in the 1st quarter. Champlain Investment Partners LLC now owns 4,032,035 shares of the company’s stock worth $62,456,000 after buying an additional 854,355 shares during the period. Goldman Sachs Group Inc. increased its position in Asana by 15.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock worth $33,891,000 after buying an additional 235,135 shares during the period. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Asana during the fourth quarter worth approximately $25,246,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Asana in the second quarter valued at approximately $17,100,000. Institutional investors 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.