Asana (NYSE:ASAN) Price Target Cut to $10.00 by Analysts at KeyCorp

Asana (NYSE:ASAN) had its target price decreased by KeyCorp from $12.00 to $10.00 in a research note released on Wednesday morning, Benzinga reports. KeyCorp currently has an underweight rating on the stock.

ASAN has been the topic of several other research reports. Piper Sandler dropped their price objective on Asana from $14.00 to $12.00 and set a neutral rating on the stock in a research note on Wednesday. Oppenheimer cut their price target on Asana from $23.00 to $20.00 and set an outperform rating for the company in a report on Wednesday. HSBC raised shares of Asana from a reduce rating to a hold rating and reduced their price objective for the stock from $16.00 to $14.00 in a research report on Monday, June 3rd. Citigroup cut their target price on shares of Asana from $17.00 to $15.00 and set a neutral rating for the company in a research note on Wednesday, June 26th. Finally, 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. 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $14.80.

Asana Trading Down 5.2 %

NYSE ASAN opened at $12.60 on Wednesday. The company has a market cap of $2.87 billion, a PE ratio of -10.77 and a beta of 1.16. Asana has a 12 month low of $11.29 and a 12 month high of $23.44. The stock has a 50 day moving average of $13.71 and a 200-day moving average of $14.71. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.13.

Asana (NYSE:ASAN) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.68 million. Asana had a negative net margin of 38.55% and a negative return on equity of 77.48%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.31) EPS. On average, equities research analysts anticipate that Asana will post -1.05 EPS for the current fiscal year.

Insider Buying and Selling at Asana

In other news, CFO Tim M. Wan sold 28,856 shares of the 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 sale, the chief financial officer now directly owns 1,050,284 shares of the company’s stock, valued at approximately $12,015,248.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Asana news, CFO Tim M. Wan sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $15.00, for a total transaction of $150,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,050,284 shares in the company, valued at $15,754,260. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Tim M. Wan sold 28,856 shares of the firm’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 $330,112.64. Following the completion of the sale, the chief financial officer now directly owns 1,050,284 shares in the company, valued at approximately $12,015,248.96. The disclosure for this sale can be found here. Insiders sold 84,443 shares of company stock valued at $1,026,976 in the last three months. Corporate insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

Several large investors have recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new position in Asana during the second quarter worth about $17,100,000. Susquehanna Fundamental Investments LLC acquired a new position in Asana during the 2nd quarter worth approximately $3,050,000. Scientech Research LLC bought a new position in Asana in the 2nd quarter valued at approximately $146,000. The Manufacturers Life Insurance Company boosted its position in Asana by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock valued at $687,000 after buying an additional 1,888 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Asana by 25.6% during the second quarter. AQR Capital Management LLC now owns 32,503 shares of the company’s stock worth $444,000 after buying an additional 6,634 shares during the last quarter. 26.21% of the stock is 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.