Asana (NYSE:ASAN) Given New $16.00 Price Target at Jefferies Financial Group

Asana (NYSE:ASAN - Free Report) had its price objective upped by Jefferies Financial Group from $13.00 to $16.00 in a research note issued to investors on Friday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Other research analysts also recently issued reports about the stock. UBS Group reduced their price objective on shares of Asana from $17.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 4th. Royal Bank of Canada reaffirmed an "underperform" rating and set a $10.00 price target on shares of Asana in a research report on Wednesday, October 23rd. Piper Sandler boosted their price objective on Asana from $12.00 to $19.00 and gave the company a "neutral" rating in a report on Friday. DA Davidson increased their target price on Asana from $11.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird boosted their price target on Asana from $13.00 to $19.00 and gave the company a "neutral" rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $16.53.

Asana Stock Up 43.5 %

Shares of ASAN traded up $6.73 during mid-day trading on Friday, reaching $22.19. 23,918,113 shares of the stock traded hands, compared to its average volume of 1,698,546. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of -19.81 and a beta of 1.22. The stock has a fifty day simple moving average of $13.37 and a 200 day simple moving average of $13.30. 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 12-month low of $11.05 and a 12-month high of $22.54.

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, beating analysts' consensus estimates 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 company had revenue of $179.21 million during the quarter, compared to analysts' expectations of $177.68 million. During the same period in the prior year, the company posted ($0.31) EPS. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts expect that Asana will post -1.14 EPS for the current fiscal year.

Insider Activity at Asana

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in Asana by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,368 shares of the company's stock valued at $827,000 after acquiring an additional 3,033 shares during the last quarter. Diversified Trust Co lifted its stake in Asana by 2.6% during the second quarter. Diversified Trust Co now owns 34,985 shares of the company's stock valued at $489,000 after purchasing an additional 900 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Asana during the second quarter worth approximately $803,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Asana by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company's stock worth $238,000 after buying an additional 1,769 shares during the last quarter. Finally, Versor Investments LP increased its holdings in shares of Asana by 48.3% in the second quarter. Versor Investments LP now owns 23,200 shares of the company's stock valued at $325,000 after buying an additional 7,557 shares in the last quarter. Institutional investors 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.