Asana (NYSE:ASAN) Research Coverage Started at Scotiabank

Scotiabank began coverage on shares of Asana (NYSE:ASAN) in a report issued on Monday morning, MarketBeat Ratings reports. The brokerage issued a sector perform rating and a $15.00 target price on the stock.

Other equities research analysts have also issued research reports about the company. JMP Securities lowered their price objective on Asana from $27.00 to $21.00 and set a “market outperform” rating on the stock in a report on Wednesday, September 4th. Bank of America dropped 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. Robert W. Baird reduced their target price on Asana from $20.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. KeyCorp lowered their price target on shares of Asana from $12.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $14.27.

Asana Stock Up 1.1 %

Asana stock opened at $13.94 on Monday. The stock has a 50 day moving average of $12.42 and a two-hundred day moving average of $13.25. Asana has a twelve month low of $11.05 and a twelve month high of $23.44. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -12.12 and a beta of 1.13. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The firm had revenue of $179.21 million for the quarter, compared to analyst estimates of $177.68 million. During the same period last year, the firm posted ($0.31) EPS. Asana’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, research analysts expect that Asana will post -1.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Eleanor B. Lacey sold 4,977 shares of Asana stock in a transaction dated 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 sale, the insider now owns 370,333 shares in the company, valued at approximately $4,366,226.07. This trade represents a 1.33 % decrease in their position. 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 firm’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 sale, the chief operating officer now directly owns 761,088 shares in the company, valued at $9,125,445.12. This represents a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,092 shares of company stock valued at $527,668. Corporate insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC grew its position in shares of Asana by 327.9% in the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after purchasing an additional 2,220 shares during the period. KBC Group NV grew its holdings in Asana by 52.1% in the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after buying an additional 1,211 shares during the period. Quest Partners LLC acquired a new position in shares of Asana during the 3rd quarter valued at about $43,000. Redwood Wealth Management Group LLC purchased a new position in shares of Asana during the 2nd quarter worth about $65,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of 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 last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.