Asana (NYSE:ASAN) Price Target Cut to $13.00

Asana (NYSE:ASAN) had its target price decreased by JPMorgan Chase & Co. from $15.00 to $13.00 in a research report report published on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

ASAN has been the subject of a number of other reports. Bank of America dropped their price target on Asana from $18.00 to $16.00 and set a buy rating for the company in a research note on Wednesday. Royal Bank of Canada reiterated an underperform rating and issued a $10.00 price target on shares of Asana in a research note on Wednesday. Morgan Stanley dropped their price target on Asana from $19.00 to $15.00 and set an equal weight rating for the company in a research note on Tuesday, August 20th. Oppenheimer dropped their price target on Asana from $23.00 to $20.00 and set an outperform rating for the company in a research note on Wednesday. Finally, UBS Group dropped their price target on Asana from $17.00 to $13.00 and set a neutral rating for the company in a research note on Wednesday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company 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 stock’s fifty day moving average price is $13.64 and its two-hundred day moving average price is $14.62. The company has a market cap of $2.69 billion, a PE ratio of -10.07 and a beta of 1.16. Asana has a fifty-two week low of $11.29 and a fifty-two week high of $23.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.71 and a current ratio of 1.71.

Asana (NYSE:ASAN) last issued its earnings results 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 firm had revenue of $179.21 million for the quarter, compared to the consensus estimate of $177.68 million. Asana had a negative return on equity of 77.48% and a negative net margin of 38.55%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.31) EPS. Equities analysts predict that Asana will post -1.05 EPS for the current fiscal year.

Insider Transactions at Asana

In other news, insider Eleanor B. Lacey sold 9,000 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 value of $102,960.00. Following the completion of the transaction, the insider now directly owns 389,149 shares of the company’s stock, valued at approximately $4,451,864.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Eleanor B. Lacey sold 9,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $11.44, for a total value of $102,960.00. Following the completion of the sale, the insider now directly owns 389,149 shares in the company, valued at approximately $4,451,864.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Eleanor B. Lacey sold 4,999 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $12.95, for a total value of $64,737.05. Following the completion of the sale, the insider now owns 384,150 shares of the company’s stock, valued at $4,974,742.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,443 shares of company stock valued at $1,026,976. Corporate insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

Several large investors have recently made changes to their positions in ASAN. Vanguard Group Inc. boosted its stake in Asana by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock valued at $144,462,000 after purchasing an additional 490,823 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in Asana by 26.9% during the 1st quarter. Champlain Investment Partners LLC now owns 4,032,035 shares of the company’s stock valued at $62,456,000 after purchasing an additional 854,355 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Asana by 15.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock valued at $33,891,000 after purchasing an additional 235,135 shares during the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in Asana during the 4th quarter valued at about $25,246,000. Finally, Point72 Asset Management L.P. acquired a new position in Asana during the 2nd quarter valued at about $17,100,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.