Asana (NYSE:ASAN) Price Target Raised to $25.00 at JMP Securities

Asana (NYSE:ASAN - Free Report) had its price target lifted by JMP Securities from $21.00 to $25.00 in a research note released on Friday morning,Benzinga reports. They currently have a market outperform rating on the stock.

ASAN has been the topic of a number of other reports. Citigroup lowered their target price on shares of Asana from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 4th. DA Davidson lifted their price objective on Asana from $11.00 to $13.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Oppenheimer decreased their target price on Asana from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, September 4th. Piper Sandler lifted their price target on Asana from $12.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Royal Bank of Canada reissued an "underperform" rating and issued a $10.00 price objective on shares of Asana in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $16.53.

Asana Stock Up 43.5 %

Shares of NYSE ASAN traded up $6.73 during mid-day 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's fifty day moving average is $13.37 and its two-hundred day moving average is $13.30. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $22.54. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market cap of $5.06 billion, a PE ratio of -19.81 and a beta of 1.22.

Asana (NYSE:ASAN - Get Free Report) last announced 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 return on equity of 81.88% and a negative net margin of 37.73%. The company had revenue of $179.21 million for the quarter, compared to the consensus estimate of $177.68 million. During the same quarter last year, the company posted ($0.31) earnings per share. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts expect that Asana will post -1.14 earnings per share for the current year.

Insider Buying and Selling at Asana

In related news, insider Eleanor B. Lacey sold 4,977 shares of Asana stock in a transaction dated 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 transaction, the insider now directly owns 370,333 shares of the company's stock, valued at $4,366,226.07. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $357,385.93. Following the sale, the chief operating officer now directly owns 761,088 shares in the company, valued at $9,125,445.12. This represents a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,092 shares of company stock valued at $527,668. 63.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC raised its position in Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company's stock valued at $41,000 after purchasing an additional 2,220 shares during the last quarter. KBC Group NV increased its stake in shares of Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company's stock valued at $41,000 after buying an additional 1,211 shares in the last quarter. Quest Partners LLC bought a new position in shares of Asana in the third quarter valued at about $43,000. Redwood Wealth Management Group LLC acquired a new position in Asana during the 2nd quarter worth about $65,000. Finally, Daiwa Securities Group Inc. lifted its position in Asana by 26.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company's stock worth $70,000 after buying an additional 1,028 shares in the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

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.