Asana (NYSE:ASAN) Price Target Raised to $13.00 at DA Davidson

Asana (NYSE:ASAN) had its target price hoisted by DA Davidson from $11.00 to $13.00 in a report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts also recently issued reports on the stock. KeyCorp decreased their price objective on shares of Asana from $12.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. decreased their price target on shares of Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, September 4th. Oppenheimer dropped their price objective on Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. JMP Securities decreased their target price on Asana from $27.00 to $21.00 and set a “market outperform” rating for the company in a research note on Wednesday, September 4th. Finally, Piper Sandler lowered their target price on Asana from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Asana presently has a consensus rating of “Hold” and a consensus price target of $14.21.

Asana Stock Performance

Shares of ASAN opened at $11.75 on Wednesday. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -10.05 and a beta of 1.14. Asana has a 12 month low of $11.05 and a 12 month high of $23.44. The company’s fifty day moving average is $12.41 and its 200-day moving average is $13.45. 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 released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (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 company had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.68 million. During the same quarter in the prior year, the company posted ($0.31) EPS. The firm’s revenue was up 10.3% on a year-over-year basis. Equities analysts expect that Asana will post -1.14 EPS for the current fiscal year.

Insider Activity

In other Asana news, COO Anne Raimondi sold 29,807 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the completion of the transaction, the chief operating officer now owns 761,088 shares in the company, valued at $9,125,445.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Eleanor B. Lacey sold 4,977 shares of the firm’s stock in a transaction on 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 directly owns 370,333 shares of the company’s stock, valued at $4,366,226.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Anne Raimondi sold 29,807 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $357,385.93. Following the completion of the transaction, the chief operating officer now directly owns 761,088 shares in the company, valued at approximately $9,125,445.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,092 shares of company stock worth $527,668. Corporate insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ASAN. Diversified Trust Co grew its position in shares of Asana by 59.0% during the 1st quarter. Diversified Trust Co now owns 34,085 shares of the company’s stock worth $528,000 after buying an additional 12,650 shares during the period. Principal Financial Group Inc. bought a new position in Asana in the first quarter valued at approximately $173,000. Diversify Advisory Services LLC bought a new position in Asana during the 1st quarter worth about $517,000. Hussman Strategic Advisors Inc. bought a new position in shares of Asana during the first quarter worth about $325,000. Finally, Retirement Planning Co of New England Inc. bought a new position in shares of Asana during the 1st quarter worth approximately $164,000. 26.21% of the stock is owned by institutional investors.

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.