Asana (NYSE:ASAN) PT Lowered to $13.00 at Robert W. Baird

Asana (NYSE:ASAN) had its price target cut by Robert W. Baird from $20.00 to $13.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued research reports about the company. Citigroup reduced their price target on Asana from $17.00 to $15.00 and set a neutral rating for the company in a research report on Wednesday, June 26th. JMP Securities reiterated a market outperform rating and issued a $27.00 target price on shares of Asana in a research report on Monday, July 15th. Oppenheimer dropped their price target on shares of Asana from $28.00 to $23.00 and set an outperform rating on the stock in a research report on Friday, May 31st. Bank of America decreased their price objective on shares of Asana from $18.00 to $16.00 and set a buy rating for the company in a report on Wednesday. Finally, HSBC raised Asana from a reduce rating to a hold rating and dropped their target price for the stock from $16.00 to $14.00 in a report on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Asana presently has an average rating of Hold and an average target price of $14.67.

Asana Stock Down 6.4 %

ASAN stock opened at $11.78 on Wednesday. The stock has a market cap of $2.69 billion, a PE ratio of -10.07 and a beta of 1.16. The firm’s 50-day simple moving average is $13.64 and its 200 day simple moving average is $14.65. Asana has a fifty-two week low of $11.29 and a fifty-two week high of $23.44. 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 (NYSE:ASAN) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate 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 net margin of 38.55% and a negative return on equity of 77.48%. Asana’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.31) earnings per share. As a group, sell-side analysts predict that Asana will post -1.05 EPS for the current year.

Insider Activity at Asana

In other Asana news, CFO Tim M. Wan sold 5,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $15.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now owns 1,063,909 shares in the company, valued at approximately $15,958,635. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Tim M. Wan sold 28,856 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $11.44, for a total value of $330,112.64. Following the completion of the sale, the chief financial officer now owns 1,050,284 shares of the company’s stock, valued at $12,015,248.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Tim M. Wan sold 5,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $15.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now directly owns 1,063,909 shares in the company, valued at $15,958,635. The disclosure for this sale can be found here. Insiders sold 84,443 shares of company stock worth $1,026,976 in the last quarter. 63.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Asana

A number of institutional investors have recently bought and sold shares of ASAN. Headlands Technologies LLC lifted its position in shares of Asana by 327.9% in the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after purchasing an additional 2,220 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its stake 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 valued at $61,000 after buying an additional 669 shares during the period. Redwood Wealth Management Group LLC purchased a new stake in Asana in the 2nd quarter worth approximately $65,000. Daiwa Securities Group Inc. lifted 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 buying an additional 1,028 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Asana by 139.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 6,673 shares of the company’s stock valued at $93,000 after buying an additional 3,885 shares during the period. 26.21% of the stock is currently 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.