Jefferies Financial Group Cuts Asana (NYSE:ASAN) Price Target to $16.00

Asana (NYSE:ASAN) had its price target cut by Jefferies Financial Group from $17.00 to $16.00 in a report released on Friday, Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts have also issued research reports about the stock. JMP Securities reiterated a market outperform rating and set a $27.00 price objective on shares of Asana in a report on Friday. UBS Group dropped their price target on Asana from $20.00 to $17.00 and set a neutral rating on the stock in a research note on Friday, May 24th. Bank of America began coverage on Asana in a research note on Monday, February 26th. They issued a buy rating and a $25.00 price objective for the company. KeyCorp lowered their target price on Asana from $14.00 to $13.00 and set an underweight rating on the stock in a research report on Friday. Finally, Piper Sandler upgraded Asana from an underweight rating to a neutral rating and cut their target price for the stock from $18.00 to $16.00 in a report on Friday. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $19.08.

Asana Trading Down 0.6 %

NYSE ASAN opened at $13.05 on Friday. The stock has a market capitalization of $2.93 billion, a P/E ratio of -11.15 and a beta of 1.22. The business has a 50 day simple moving average of $14.87 and a 200 day simple moving average of $17.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.80 and a quick ratio of 1.80. Asana has a one year low of $12.85 and a one year high of $26.27.

Asana (NYSE:ASAN) last announced its quarterly earnings data on Monday, March 11th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.06. The company had revenue of $171.14 million during the quarter, compared to the consensus estimate of $167.59 million. Asana had a negative net margin of 38.55% and a negative return on equity of 76.83%. Research analysts expect that Asana will post -1.08 earnings per share for the current year.

Insider Buying and Selling at Asana

In other news, CFO Tim M. Wan sold 10,105 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $15.38, for a total value of $155,414.90. Following the completion of the sale, the chief financial officer now owns 753,888 shares in the company, valued at approximately $11,594,797.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Tim M. Wan sold 10,105 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $15.38, for a total transaction of $155,414.90. Following the transaction, the chief financial officer now directly owns 753,888 shares of the company’s stock, valued at $11,594,797.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tim M. Wan sold 10,000 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the completion of the sale, the chief financial officer now directly owns 753,888 shares of the company’s stock, valued at $11,308,320. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,733 shares of company stock worth $788,886. Corporate insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

A number of institutional investors and hedge funds have recently modified their holdings of ASAN. Motley Fool Asset Management LLC bought a new position in Asana during the first quarter valued at about $217,000. Bayesian Capital Management LP purchased a new position in Asana in the first quarter valued at about $546,000. Price T Rowe Associates Inc. MD boosted its stake in Asana by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,368 shares of the company’s stock valued at $827,000 after acquiring an additional 3,033 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Asana by 27.9% during the 1st quarter. Bessemer Group Inc. now owns 53,345 shares of the company’s stock valued at $827,000 after acquiring an additional 11,640 shares during the period. Finally, Champlain Investment Partners LLC increased its stake in shares of Asana by 26.9% during the 1st 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 during the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

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.