Asana (NYSE:ASAN) PT Lowered to $13.00 at Citigroup

Asana (NYSE:ASAN) had its price target reduced by Citigroup from $15.00 to $13.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

ASAN has been the subject of a number of other research reports. Oppenheimer reduced their price objective on Asana from $23.00 to $20.00 and set an outperform rating for the company in a research report on Wednesday. Robert W. Baird reduced their price target on Asana from $20.00 to $13.00 and set a neutral rating for the company in a research report on Wednesday. Jefferies Financial Group reduced their price target on Asana from $17.00 to $16.00 and set a hold rating for the company in a research report on Friday, May 31st. KeyCorp reduced their price target on Asana from $12.00 to $10.00 and set an underweight rating for the company in a research report on Wednesday. Finally, UBS Group reduced 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. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $14.67.

Asana Price Performance

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. Asana has a 52-week low of $11.29 and a 52-week high of $23.44. The stock’s 50 day moving average is $13.64 and its two-hundred day moving average is $14.62. The company has a market capitalization of $2.69 billion, a PE ratio of -10.07 and a beta of 1.16.

Asana (NYSE:ASAN) last posted its quarterly earnings data 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 77.48% and a negative net margin of 38.55%. The company had revenue of $179.21 million for the quarter, compared to the consensus estimate of $177.68 million. During the same period in the previous year, the business earned ($0.31) EPS. Asana’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts predict that Asana will post -1.05 earnings per share for the current fiscal year.

Insider Transactions at Asana

In other news, COO Anne Raimondi sold 26,588 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $11.44, for a total transaction of $304,166.72. Following the sale, the chief operating officer now directly owns 790,894 shares of the company’s stock, valued at $9,047,827.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Tim M. Wan sold 28,856 shares of the company’s stock in a transaction on 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 $12,015,248.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Anne Raimondi sold 26,588 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 $304,166.72. Following the transaction, the chief operating officer now directly owns 790,894 shares in the company, valued at $9,047,827.36. The disclosure for this sale can be found here. Insiders have sold 84,443 shares of company stock valued at $1,026,976 over the last three months. Company insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ASAN. Headlands Technologies LLC increased its position in Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after purchasing an additional 2,220 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its position in Asana by 26.2% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock worth $61,000 after purchasing an additional 669 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new position in Asana in the 2nd quarter worth about $65,000. Daiwa Securities Group Inc. increased its position 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 purchasing 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 2nd 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 owned by institutional investors and hedge funds.

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.