Asana (NYSE:ASAN) PT Lowered to $13.00 at KeyCorp

Asana (NYSE:ASAN) had its target price cut by KeyCorp from $14.00 to $13.00 in a research report report published on Friday morning, Benzinga reports. They currently have an underweight rating on the stock.

A number of other research analysts have also commented on ASAN. UBS Group cut their price objective on shares of Asana from $20.00 to $17.00 and set a neutral rating for the company in a research report on Friday, May 24th. Bank of America started coverage on shares of Asana in a research report on Monday, February 26th. They set a buy rating and a $25.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $18.75.

Asana Stock Up 2.8 %

Asana stock opened at $13.41 on Friday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -11.46 and a beta of 1.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.71 and a quick ratio of 1.71. Asana has a fifty-two week low of $12.85 and a fifty-two week high of $26.27. The firm has a fifty day moving average price of $14.83 and a two-hundred day moving average price of $17.42.

Asana (NYSE:ASAN) last released its earnings results on Monday, March 11th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. The firm had revenue of $171.14 million during the quarter, compared to analyst estimates of $167.59 million. Asana had a negative net margin of 38.55% and a negative return on equity of 77.48%. As a group, analysts forecast that Asana will post -1.08 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Asana

Several hedge funds have recently modified their holdings of ASAN. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Asana during the fourth quarter valued at approximately $25,246,000. Champlain Investment Partners LLC grew 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 valued at $62,456,000 after purchasing an additional 854,355 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Asana by 5.6% during the first quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock valued at $144,462,000 after purchasing an additional 490,823 shares during the last quarter. Norges Bank bought a new stake in shares of Asana during the fourth quarter valued at approximately $7,500,000. Finally, Goldman Sachs Group Inc. grew 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 valued at $33,891,000 after purchasing an additional 235,135 shares during the last quarter. 26.21% of the stock is owned by 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.