Asana, Inc. (NYSE:ASAN) Insider Eleanor B. Lacey Sells 9,308 Shares

Asana, Inc. (NYSE:ASAN) insider Eleanor B. Lacey sold 9,308 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $111,602.92. Following the completion of the transaction, the insider now owns 375,310 shares in the company, valued at $4,499,966.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Asana Price Performance

Shares of ASAN stock remained flat at $11.89 during mid-day trading on Tuesday. 2,098,446 shares of the stock traded hands, compared to its average volume of 2,086,486. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -10.13 and a beta of 1.16. The company has a fifty day simple moving average of $13.29 and a 200-day simple moving average of $14.05. 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, Inc. has a one year low of $11.05 and a one year high of $23.44.

Asana (NYSE:ASAN) last announced 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. The company had revenue of $179.21 million for the quarter, compared to analyst estimates of $177.68 million. Asana had a negative return on equity of 81.88% and a negative net margin of 37.73%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.31) EPS. On average, analysts expect that Asana, Inc. will post -1.14 EPS for the current year.

Asana declared that its board has initiated a stock buyback program on Thursday, June 20th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to buy up to 5.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Asana during the 4th quarter worth $25,246,000. Point72 Asset Management L.P. purchased a new stake in Asana during the second quarter worth about $17,100,000. Champlain Investment Partners LLC boosted its holdings in Asana by 26.9% during the first quarter. Champlain Investment Partners LLC now owns 4,032,035 shares of the company’s stock worth $62,456,000 after buying an additional 854,355 shares in the last quarter. Vanguard Group Inc. grew its position in Asana by 5.6% during the first quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock worth $144,462,000 after buying an additional 490,823 shares during the period. Finally, Norges Bank purchased a new position in Asana in the fourth quarter valued at about $7,500,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on ASAN shares. Robert W. Baird dropped their target price on shares of Asana from $20.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. JMP Securities cut their target price on Asana from $27.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Wednesday, September 4th. DA Davidson reissued a “neutral” rating and issued a $11.00 target price (down from $14.00) on shares of Asana in a research report on Wednesday, September 4th. Piper Sandler cut their price target on Asana from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, Oppenheimer reduced their price objective on Asana from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.67.

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.