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

Asana (NYSE:ASAN) had its price objective trimmed by Robert W. Baird from $20.00 to $13.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms have also commented on ASAN. Piper Sandler reduced their price objective on shares of Asana from $16.00 to $14.00 and set a neutral rating for the company in a research note on Friday, July 12th. JMP Securities reissued a market outperform rating and set a $27.00 price objective on shares of Asana in a report on Monday, July 15th. UBS Group reduced their target price on Asana from $20.00 to $17.00 and set a neutral rating for the company in a research note on Friday, May 24th. Citigroup cut their price objective on Asana from $17.00 to $15.00 and set a neutral rating on the stock in a report on Wednesday, June 26th. Finally, KeyCorp decreased their target price on Asana from $14.00 to $13.00 and set an underweight rating for the company in a report on Friday, May 31st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $14.67.

Asana Stock Down 6.4 %

Shares of NYSE ASAN opened at $11.78 on Wednesday. Asana has a 52-week low of $11.29 and a 52-week high of $23.44. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -10.07 and a beta of 1.16. The stock has a 50 day moving average price of $13.64 and a 200 day moving average price of $14.62. 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 announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $179.21 million for the quarter, compared to the consensus estimate of $177.68 million. During the same period last year, the business posted ($0.31) EPS. The business’s revenue was up 10.3% compared to the same quarter last year. Sell-side analysts expect that Asana will post -1.05 earnings per share for the current year.

Insider Buying and Selling at Asana

In other news, COO Anne Raimondi sold 26,588 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 transaction of $304,166.72. Following the completion of the transaction, the chief operating officer now directly owns 790,894 shares in the company, valued at $9,047,827.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Asana news, COO Anne Raimondi sold 26,588 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were 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 in the company, valued at approximately $9,047,827.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Tim M. Wan sold 28,856 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 $330,112.64. Following the completion of the transaction, the chief financial officer now owns 1,050,284 shares of the company’s stock, valued at approximately $12,015,248.96. The disclosure for this sale can be found here. Insiders sold a total of 84,443 shares of company stock worth $1,026,976 over the last three months. Insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC lifted its position in Asana by 327.9% in the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after acquiring an additional 2,220 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of 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 purchasing an additional 669 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new stake in shares of Asana in the 2nd quarter valued at about $65,000. Daiwa Securities Group Inc. boosted its position in shares of Asana by 26.0% in 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. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Asana by 139.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 6,673 shares of the company’s stock worth $93,000 after buying an additional 3,885 shares during the last quarter. 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.