Asana (NYSE:ASAN) Given New $10.00 Price Target at KeyCorp

Asana (NYSE:ASAN) had its price target reduced by KeyCorp from $12.00 to $10.00 in a research note published on Wednesday, Benzinga reports. They currently have an underweight rating on the stock.

Several other research analysts also recently commented on the company. Jefferies Financial Group decreased their price objective on Asana from $17.00 to $16.00 and set a hold rating on the stock in a report on Friday, May 31st. Citigroup decreased their price objective on shares of Asana from $17.00 to $15.00 and set a neutral rating on the stock in a research report on Wednesday, June 26th. Piper Sandler dropped their target price on shares of Asana from $14.00 to $12.00 and set a neutral rating for the company in a report on Wednesday. Bank of America reduced their price target on Asana from $18.00 to $16.00 and set a buy rating on the stock in a report on Wednesday. Finally, Oppenheimer dropped their price objective on Asana from $23.00 to $20.00 and set an outperform rating for the company in a report on Wednesday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Asana currently has an average rating of Hold and an average target price of $14.67.

Asana Trading Down 6.4 %

Shares of ASAN stock opened at $11.78 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.69 billion, a P/E ratio of -10.07 and a beta of 1.16. The business has a 50-day moving average price of $13.64 and a two-hundred day moving average price of $14.62. Asana has a 12-month low of $11.29 and a 12-month high of $23.44.

Asana (NYSE:ASAN) last issued its 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. The business had revenue of $179.21 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned ($0.31) earnings per share. Equities analysts anticipate that Asana will post -1.05 EPS for the current fiscal year.

Insider Activity at Asana

In other news, CFO Tim M. Wan sold 28,856 shares of Asana stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $11.44, for a total transaction of $330,112.64. Following the transaction, the chief financial officer now directly owns 1,050,284 shares of the company’s stock, valued at approximately $12,015,248.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Tim M. Wan sold 28,856 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 1,050,284 shares of the company’s stock, valued at approximately $12,015,248.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Tim M. Wan sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the completion of the transaction, the chief financial officer now owns 1,050,284 shares in the company, valued at $15,754,260. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,443 shares of company stock worth $1,026,976. 63.97% of the stock is owned by insiders.

Institutional Trading of Asana

A number of institutional investors and hedge funds have recently bought and sold shares of ASAN. Headlands Technologies LLC boosted its holdings in shares of Asana by 327.9% during the 2nd 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 last quarter. Edmond DE Rothschild Holding S.A. lifted its position in shares of Asana by 26.2% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock worth $61,000 after buying an additional 669 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new position in Asana during the 2nd quarter valued at approximately $65,000. Daiwa Securities Group Inc. increased its stake in Asana by 26.0% in the 2nd 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. Finally, Benjamin F. Edwards & Company Inc. increased its position in Asana by 139.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,673 shares of the company’s stock worth $93,000 after purchasing an additional 3,885 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors.

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.