Asana's (ASAN) "Underperform" Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their underperform rating on shares of Asana (NYSE:ASAN - Free Report) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $10.00 price objective on the stock.

ASAN has been the topic of a number of other research reports. Morgan Stanley dropped their target price on Asana from $19.00 to $15.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 20th. Scotiabank assumed coverage on shares of Asana in a research note on Monday, November 18th. They issued a "sector perform" rating and a $15.00 price objective on the stock. UBS Group cut their target price on shares of Asana from $17.00 to $13.00 and set a "neutral" rating for the company in a research report on Wednesday, September 4th. Jefferies Financial Group boosted their price target on shares of Asana from $13.00 to $16.00 and gave the company a "hold" rating in a report on Friday. Finally, JMP Securities increased their price objective on Asana from $21.00 to $25.00 and gave the stock a "market outperform" rating in a 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's stock. Based on data from MarketBeat, Asana presently has an average rating of "Hold" and a consensus price target of $16.53.

Asana Trading Up 43.5 %

NYSE ASAN traded up $6.73 on Friday, hitting $22.19. 23,918,113 shares of the company were exchanged, compared to its average volume of 1,698,546. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. Asana has a twelve month low of $11.05 and a twelve month high of $22.54. The firm has a market capitalization of $5.06 billion, a P/E ratio of -19.81 and a beta of 1.22. The company's 50 day moving average price is $13.37 and its 200-day moving average price is $13.30.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The business had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.68 million. During the same quarter in the prior year, the firm earned ($0.31) EPS. The firm's quarterly revenue was up 10.3% on a year-over-year basis. Analysts predict that Asana will post -1.14 earnings per share for the current fiscal year.

Insider Transactions at Asana

In related news, COO Anne Raimondi sold 29,807 shares of the business's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the completion of the transaction, the chief operating officer now owns 761,088 shares of the company's stock, valued at approximately $9,125,445.12. The trade was a 3.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eleanor B. Lacey sold 9,308 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $111,602.92. Following the sale, the insider now owns 375,310 shares of the company's stock, valued at approximately $4,499,966.90. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,092 shares of company stock worth $527,668. 63.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Asana

Several hedge funds have recently made changes to their positions in ASAN. Point72 Asset Management L.P. acquired a new stake in shares of Asana during the 2nd quarter valued at about $17,100,000. Cubist Systematic Strategies LLC bought a new stake in shares of Asana in the 2nd quarter valued at approximately $5,169,000. Marshall Wace LLP acquired a new position in Asana during the second quarter worth $3,159,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Asana during the 2nd quarter worth about $3,050,000. Finally, Holocene Advisors LP increased its holdings in shares of Asana by 62.2% during the third quarter. Holocene Advisors LP now owns 305,167 shares of the company's stock worth $3,537,000 after buying an additional 116,998 shares in 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.