Asana (NYSE:ASAN) Upgraded to Sector Weight at KeyCorp

Asana (NYSE:ASAN) was upgraded by stock analysts at KeyCorp from an “underweight” rating to a “sector weight” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports.

ASAN has been the topic of several other reports. Scotiabank initiated coverage on Asana in a research report on Monday, November 18th. They set a “sector perform” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday, September 4th. Oppenheimer decreased their price objective on shares of Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Bank of America decreased 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, September 4th. Finally, Robert W. Baird decreased their price objective on shares of Asana from $20.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.67.

Asana Price Performance

NYSE ASAN opened at $15.46 on Friday. The firm’s 50-day simple moving average is $13.17 and its two-hundred day simple moving average is $13.25. Asana has a 52 week low of $11.05 and a 52 week high of $21.55. The company has a market cap of $3.53 billion, a PE ratio of -13.44 and a beta of 1.22. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14.

Asana (NYSE:ASAN) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $179.21 million for the quarter, compared to analysts’ expectations of $177.68 million. During the same period in the prior year, the business posted ($0.31) earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. Research analysts predict that Asana will post -1.14 earnings per share for the current year.

Insider Buying and Selling at Asana

In other news, insider Eleanor B. Lacey sold 9,308 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $111,602.92. Following the completion of the sale, the insider now owns 375,310 shares of the company’s stock, valued at approximately $4,499,966.90. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Anne Raimondi sold 29,807 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $357,385.93. Following the sale, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. This trade represents a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,092 shares of company stock worth $527,668 over the last ninety days. Insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

A number of institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System lifted its stake in Asana by 3.6% in the second quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock worth $327,000 after acquiring an additional 803 shares during the period. Diversified Trust Co lifted its stake in Asana by 2.6% in the second quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock worth $489,000 after acquiring an additional 900 shares during the period. Daiwa Securities Group Inc. lifted its stake in Asana by 26.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after acquiring an additional 1,028 shares during the period. KBC Group NV lifted its stake in Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after acquiring an additional 1,211 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Asana by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock worth $238,000 after acquiring an additional 1,769 shares during the period. Hedge funds and other 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.