Asana (NYSE:ASAN) PT Lowered to $12.00 at Piper Sandler

Asana (NYSE:ASAN) had its price target cut by Piper Sandler from $14.00 to $12.00 in a research report released on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also recently issued reports on ASAN. JMP Securities restated a market outperform rating and issued a $27.00 target price on shares of Asana in a report on Monday, July 15th. HSBC upgraded Asana from a reduce rating to a hold rating and dropped their price target for the stock from $16.00 to $14.00 in a research note on Monday, June 3rd. Citigroup reduced their price objective on Asana from $17.00 to $15.00 and set a neutral rating for the company in a research report on Wednesday, June 26th. Oppenheimer dropped their target price on Asana from $28.00 to $23.00 and set an outperform rating on the stock in a research report on Friday, May 31st. Finally, Morgan Stanley decreased their price target on shares of Asana from $19.00 to $15.00 and set an equal weight rating on the stock in a research report on Tuesday, August 20th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $14.67.

Asana Stock Down 6.4 %

Asana stock opened at $11.78 on Wednesday. Asana has a 12 month low of $11.29 and a 12 month high of $23.44. The stock has a fifty day simple moving average of $13.64 and a two-hundred day simple moving average of $14.65. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -10.07 and a beta of 1.16.

Asana (NYSE:ASAN) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate 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 77.48% and a negative net margin of 38.55%. Asana’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the company earned ($0.31) EPS. Equities analysts predict that Asana will post -1.05 EPS for the current fiscal year.

Insider Activity at Asana

In other Asana news, CFO Tim M. Wan sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the sale, the chief financial officer now owns 1,050,284 shares in the company, valued at approximately $15,754,260. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Asana news, CFO Tim M. Wan sold 28,856 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $11.44, for a total value of $330,112.64. Following the completion of the sale, the chief financial officer now owns 1,050,284 shares of the company’s stock, valued at $12,015,248.96. The sale was disclosed in a legal filing with the SEC, 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 that occurred on Wednesday, July 17th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the transaction, the chief financial officer now directly owns 1,050,284 shares in the company, valued at approximately $15,754,260. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,443 shares of company stock valued at $1,026,976. Corporate insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted 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 period. Champlain Investment Partners LLC lifted its holdings in Asana by 26.9% during the 1st quarter. Champlain Investment Partners LLC now owns 4,032,035 shares of the company’s stock valued at $62,456,000 after buying an additional 854,355 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Asana by 15.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock valued at $33,891,000 after buying an additional 235,135 shares in the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new stake in Asana in the 4th quarter valued at about $25,246,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Asana during the second quarter worth approximately $17,100,000. 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.