Asana, Inc. (NYSE:ASAN – Get Free Report) COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $357,385.93. Following the sale, the chief operating officer now owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Asana Stock Performance
Shares of NYSE:ASAN remained flat at $11.89 on Tuesday. 2,253,840 shares of the stock traded hands, compared to its average volume of 2,086,486. The company has a fifty day moving average of $13.29 and a 200 day moving average of $14.05. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $23.44. The company has a market cap of $2.71 billion, a P/E ratio of -10.13 and a beta of 1.16.
Asana (NYSE:ASAN – Get Free Report) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS 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 analyst estimates of $177.68 million. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The company’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 business earned ($0.31) earnings per share. As a group, sell-side analysts predict that Asana, Inc. will post -1.14 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on ASAN shares. Royal Bank of Canada reissued an “underperform” rating and set a $10.00 target price on shares of Asana in a research report on Wednesday, September 4th. Piper Sandler reduced their price target on shares of Asana from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Robert W. Baird dropped their price objective on shares of Asana from $20.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Citigroup reduced their target price on shares of Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Finally, DA Davidson reissued a “neutral” rating and set a $11.00 target price (down from $14.00) on shares of Asana in a research report on Wednesday, September 4th. 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.67.
View Our Latest Report on ASAN
Hedge Funds Weigh In On Asana
Several institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC raised its stake 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 acquiring an additional 2,220 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its position 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 worth $61,000 after purchasing an additional 669 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new position in Asana during the 2nd quarter worth $65,000. Daiwa Securities Group Inc. boosted 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 valued at $70,000 after buying an additional 1,028 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Asana by 139.3% in 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 last quarter. Institutional investors own 26.21% of the company’s stock.
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.
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