Asana (NYSE:ASAN) Price Target Raised to $18.00

Asana (NYSE:ASAN) had its target price lifted by Scotiabank from $15.00 to $18.00 in a report released on Friday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other research analysts also recently weighed in on the stock. Robert W. Baird raised their price target on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a report on Friday. Citigroup cut their price objective on Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Royal Bank of Canada reissued an “underperform” rating and issued a $10.00 price target on shares of Asana in a report on Friday. Bank of America decreased their price objective on Asana from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, Morgan Stanley raised their price target on shares of Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.53.

Asana Trading Up 43.6 %

Asana stock opened at $22.20 on Friday. 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 has a 12 month low of $11.05 and a 12 month high of $22.54. The company’s fifty day simple moving average is $13.17 and its 200-day simple moving average is $13.25. The stock has a market cap of $5.06 billion, a P/E ratio of -19.30 and a beta of 1.22.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The company 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 quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the business earned ($0.31) EPS. As a group, sell-side analysts forecast that Asana will post -1.14 EPS for the current fiscal year.

Insider Transactions at Asana

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

Institutional Investors Weigh In On Asana

Several large investors have recently bought and sold shares of ASAN. Arizona State Retirement System raised its position in shares of Asana by 3.6% during the second quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock worth $327,000 after purchasing an additional 803 shares during the period. Diversified Trust Co boosted its holdings in Asana by 2.6% during the second quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock worth $489,000 after purchasing an additional 900 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Asana by 26.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after acquiring an additional 1,028 shares in the last quarter. KBC Group NV grew its stake in Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after purchasing an additional 1,211 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Asana by 11.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock worth $238,000 after buying an additional 1,769 shares during the last quarter. Institutional investors own 26.21% of the company’s stock.

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.