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Asana Sees Unusually Large Options Volume (NYSE:ASAN)

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Asana, Inc. (NYSE:ASAN - Get Free Report) was the recipient of unusually large options trading activity on Friday. Stock investors bought 40,838 call options on the stock. This is an increase of 1,392% compared to the average volume of 2,737 call options.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Bank of America cut their price target on Asana from $18.00 to $16.00 and set a "buy" rating for the company in a report on Wednesday, September 4th. Piper Sandler raised their target price on shares of Asana from $12.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday. Jefferies Financial Group upped their price target on shares of Asana from $13.00 to $16.00 and gave the company a "hold" rating in a research note on Friday. Morgan Stanley raised their price objective on shares of Asana from $14.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Robert W. Baird upped their target price on Asana from $13.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Asana presently has an average rating of "Hold" and a consensus target price of $16.53.

Read Our Latest Stock Report on ASAN

Insiders Place Their Bets

In other Asana news, COO Anne Raimondi sold 29,807 shares of the company's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the sale, the chief operating officer now directly owns 761,088 shares of the company's stock, valued at approximately $9,125,445.12. This represents a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eleanor B. Lacey sold 4,977 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $58,678.83. Following the completion of the sale, the insider now owns 370,333 shares of the company's stock, valued at approximately $4,366,226.07. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,092 shares of company stock valued at $527,668 in the last three months. 63.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Asana

Several large investors have recently made changes to their positions in ASAN. Susquehanna Fundamental Investments LLC acquired a new stake in Asana in the second quarter valued at about $3,050,000. Point72 Asset Management L.P. bought a new position in Asana in the 2nd quarter valued at approximately $17,100,000. Marshall Wace LLP acquired a new stake in Asana in the second quarter valued at approximately $3,159,000. Intech Investment Management LLC bought a new stake in shares of Asana during the third quarter worth $456,000. Finally, Olympiad Research LP acquired a new position in shares of Asana during the third quarter worth $792,000. Institutional investors and hedge funds own 26.21% of the company's stock.

Asana Price Performance

Shares of NYSE:ASAN traded up $6.73 during trading on Friday, reaching $22.19. 23,918,113 shares of the company traded hands, compared to its average volume of 1,698,546. 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 has a 52 week low of $11.05 and a 52 week high of $22.54. The firm has a market capitalization of $5.06 billion, a PE ratio of -19.81 and a beta of 1.22. The company's 50 day moving average is $13.37 and its two-hundred day moving average is $13.30.

Asana (NYSE:ASAN - Get Free Report) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $179.21 million during the quarter, compared to analysts' expectations of $177.68 million. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. Asana's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.31) earnings per share. As a group, sell-side analysts predict that Asana will post -1.14 earnings per share for the current year.

Asana Company Profile

(Get Free Report)

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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