JMP Securities Trims Asana (NYSE:ASAN) Target Price to $21.00

Asana (NYSE:ASAN) had its price objective cut by JMP Securities from $27.00 to $21.00 in a report released on Wednesday morning, Benzinga reports. They currently have a market outperform rating on the stock.

A number of other research analysts have also issued reports on the stock. HSBC upgraded shares of Asana from a reduce rating to a hold rating and reduced their target price for the company from $16.00 to $14.00 in a report on Monday, June 3rd. KeyCorp reduced their target price on shares of Asana from $14.00 to $13.00 and set an underweight rating on the stock in a report on Friday, May 31st. Bank of America reduced their target price on shares of Asana from $18.00 to $16.00 and set a buy rating on the stock in a report on Wednesday. Citigroup reduced their target price on shares of Asana from $17.00 to $15.00 and set a neutral rating on the stock in a report on Wednesday, June 26th. Finally, Morgan Stanley reduced their target price on shares of Asana from $19.00 to $15.00 and set an equal weight rating on the stock in a report on Tuesday, August 20th. Three equities research 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 MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $14.67.

Asana Price Performance

Asana stock opened at $11.78 on Wednesday. Asana has a 52 week low of $11.29 and a 52 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. The firm’s 50-day simple moving average is $13.64 and its 200 day simple moving average is $14.65. The firm has a market capitalization of $2.69 billion, a PE ratio of -10.07 and a beta of 1.16.

Asana (NYSE:ASAN) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business 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%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.31) EPS. On average, equities research analysts predict that Asana will post -1.05 EPS for the current fiscal year.

Insider Activity

In related news, insider Eleanor B. Lacey sold 9,000 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 $102,960.00. Following the completion of the sale, the insider now 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 can be accessed through the SEC website. In related news, CFO Tim M. Wan sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $15.00, for a total transaction of $75,000.00. Following the completion of the sale, the chief financial officer now owns 1,063,909 shares of the company’s stock, valued at approximately $15,958,635. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eleanor B. Lacey sold 9,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $11.44, for a total transaction of $102,960.00. Following the sale, the insider now directly owns 389,149 shares of the company’s stock, valued at approximately $4,451,864.56. The disclosure for this sale can be found here. Insiders sold a total of 84,443 shares of company stock valued at $1,026,976 in the last 90 days. 63.97% of the stock is currently owned by insiders.

Institutional Trading of Asana

Several large investors have recently bought and sold shares of ASAN. New York State Common Retirement Fund grew its position in Asana by 22.4% in the fourth quarter. New York State Common Retirement Fund now owns 37,756 shares of the company’s stock valued at $718,000 after acquiring an additional 6,904 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Asana in the fourth quarter valued at approximately $197,000. Charles Schwab Investment Management Inc. grew its position in Asana by 6.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 696,277 shares of the company’s stock valued at $13,236,000 after acquiring an additional 43,564 shares in the last quarter. Beacon Pointe Advisors LLC grew its position in Asana by 13.0% in the fourth quarter. Beacon Pointe Advisors LLC now owns 38,276 shares of the company’s stock valued at $728,000 after acquiring an additional 4,401 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its position in Asana by 4.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 20,319 shares of the company’s stock valued at $386,000 after acquiring an additional 828 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

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.