Asana (NYSE:ASAN – Get Free Report) had its price objective lifted by equities researchers at Morgan Stanley from $14.00 to $18.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential downside of 19.64% from the company’s current price.
ASAN has been the subject of a number of other research reports. Bank of America cut their target price 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. Oppenheimer raised their price objective on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday. DA Davidson boosted their target price on shares of Asana from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday. Finally, JMP Securities increased their target price on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.87.
View Our Latest Analysis on ASAN
Asana Trading Up 44.9 %
Asana (NYSE:ASAN – Get Free Report) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.68 million. Asana had a negative return on equity of 81.88% and a negative net margin of 37.73%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.31) EPS. Equities research analysts anticipate that Asana will post -1.14 earnings per share for the current year.
Insider Transactions at Asana
In related news, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $357,385.93. Following the completion of the transaction, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at $9,125,445.12. The trade was a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eleanor B. Lacey sold 4,977 shares of the business’s stock in a transaction that occurred on 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. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,092 shares of company stock valued at $527,668. Corporate insiders own 63.97% of the company’s stock.
Institutional Investors Weigh In On Asana
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC boosted its position in shares of Asana by 327.9% during the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after purchasing an additional 2,220 shares in the last quarter. KBC Group NV raised its position in shares of Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after purchasing an additional 1,211 shares during the period. Quest Partners LLC bought a new position in shares of Asana during the 3rd quarter valued at about $43,000. Redwood Wealth Management Group LLC acquired a new position in shares of Asana in the 2nd quarter valued at approximately $65,000. Finally, Daiwa Securities Group Inc. increased its stake in Asana by 26.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after purchasing an additional 1,028 shares in the last quarter. 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.
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