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

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

A number of other equities analysts also recently issued reports on ASAN. Robert W. Baird cut their price target on Asana from $20.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. UBS Group lowered their price target on Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Oppenheimer cut their price objective on shares of Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Piper Sandler reduced their target price on shares of Asana from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Finally, Citigroup dropped their price target on shares of Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Three equities research 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 data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.21.

Asana Price Performance

Shares of NYSE:ASAN opened at $11.86 on Wednesday. Asana has a twelve month low of $11.05 and a twelve month high of $23.44. The stock’s 50 day moving average is $12.34 and its 200-day moving average is $13.41. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -10.13 and a beta of 1.14.

Asana (NYSE:ASAN) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $179.21 million for the quarter, compared to the consensus estimate of $177.68 million. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.31) earnings per share. Sell-side analysts forecast that Asana will post -1.14 EPS for the current fiscal year.

Insider Activity

In related news, insider Eleanor B. Lacey sold 9,308 shares of Asana stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $111,602.92. Following the sale, the insider now owns 375,310 shares of the company’s stock, valued at approximately $4,499,966.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Eleanor B. Lacey sold 9,308 shares of the stock in a transaction on Friday, September 20th. The stock was 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 approximately $4,499,966.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction dated 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 sale, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,092 shares of company stock valued at $527,668 in the last three months. Company insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

A number of institutional investors have recently modified their holdings of ASAN. Arizona State Retirement System grew its stake in Asana by 3.6% in the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock valued at $327,000 after buying an additional 803 shares in the last quarter. Diversified Trust Co grew 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 purchasing an additional 900 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Asana by 26.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after purchasing an additional 1,028 shares during the period. ProShare Advisors LLC lifted its holdings in Asana by 12.1% during the 1st quarter. ProShare Advisors LLC now owns 15,838 shares of the company’s stock worth $245,000 after purchasing an additional 1,710 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Asana by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock worth $238,000 after purchasing an additional 1,769 shares in the last quarter. 26.21% of the stock is currently owned by hedge funds and other 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.