Asana Target of Unusually Large Options Trading (NYSE:ASAN)

Asana, Inc. (NYSE:ASAN) saw unusually large options trading activity on Friday. Investors acquired 40,838 call options on the stock. This represents an increase of approximately 1,392% compared to the average volume of 2,737 call options.

Insider Buying and Selling

In other news, COO Anne Raimondi sold 29,807 shares of the stock in a transaction 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 owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. This represents a 3.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the insider now directly owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,092 shares of company stock worth $527,668. Insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASAN. Price T Rowe Associates Inc. MD raised its holdings in Asana by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,368 shares of the company’s stock worth $827,000 after purchasing an additional 3,033 shares during the period. Diversified Trust Co increased its position in shares of Asana by 2.6% in the second quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock valued at $489,000 after buying an additional 900 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Asana during the 2nd quarter worth approximately $803,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 acquiring an additional 1,769 shares during the period. Finally, Versor Investments LP grew its position in shares of Asana by 48.3% in the second quarter. Versor Investments LP now owns 23,200 shares of the company’s stock valued at $325,000 after purchasing an additional 7,557 shares during the period. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Stock Performance

Shares of NYSE ASAN traded up $6.71 during trading on Friday, reaching $22.17. 13,861,265 shares of the company traded hands, compared to its average volume of 2,043,800. Asana has a 12-month low of $11.05 and a 12-month high of $22.22. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The stock has a market cap of $5.06 billion, a P/E ratio of -18.35 and a beta of 1.22. The firm’s fifty day simple moving average is $13.17 and its 200 day simple moving average is $13.25.

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. Asana had a negative return on equity of 81.88% and a negative net margin of 37.73%. The business had revenue of $179.21 million for the quarter, compared to analyst estimates of $177.68 million. During the same quarter in the prior year, the firm posted ($0.31) EPS. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, research analysts anticipate that Asana will post -1.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ASAN has been the subject of a number of research analyst reports. DA Davidson lifted their price objective on shares of Asana from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Robert W. Baird upped their price objective on shares of Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday. 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 report on Friday. Royal Bank of Canada restated an “underperform” rating and set a $10.00 target price on shares of Asana in a report on Friday. Finally, Oppenheimer lifted their target price on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.67.

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.