Asana, Inc. (NYSE:ASAN) Insider Eleanor B. Lacey Sells 4,977 Shares

Asana, Inc. (NYSE:ASAN) insider Eleanor B. Lacey sold 4,977 shares of Asana stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.79, for a total value of $58,678.83. Following the sale, the insider now directly owns 370,333 shares in the company, valued at $4,366,226.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Asana Trading Up 0.2 %

ASAN opened at $11.72 on Friday. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $23.44. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -10.02 and a beta of 1.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a 50 day simple moving average of $13.12 and a 200 day simple moving average of $13.97.

Asana (NYSE:ASAN) last issued its 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 company had revenue of $179.21 million during the quarter, compared to analysts’ expectations of $177.68 million. During the same quarter in the previous year, the company posted ($0.31) EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Asana, Inc. will post -1.14 earnings per share for the current year.

Asana declared that its board has initiated a stock buyback program on Thursday, June 20th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to purchase up to 5.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Asana

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. acquired a new position in shares of Asana in the 4th quarter valued at $197,000. Charles Schwab Investment Management Inc. grew its stake in Asana by 6.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 696,277 shares of the company’s stock valued at $13,236,000 after acquiring an additional 43,564 shares during the period. Norges Bank bought a new stake in shares of Asana in the fourth quarter worth about $7,500,000. Quest Partners LLC acquired a new stake in shares of Asana during the fourth quarter worth about $260,000. Finally, Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Asana by 26.2% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock valued at $61,000 after purchasing an additional 669 shares in the last quarter. 26.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. JMP Securities decreased their price objective on Asana from $27.00 to $21.00 and set a “market outperform” rating on the stock in a report on Wednesday, September 4th. Jefferies Financial Group decreased their price target on shares of Asana from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, May 31st. Piper Sandler lowered their price target on shares of Asana from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. KeyCorp reduced their price objective on shares of Asana from $12.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, September 4th. Finally, Morgan Stanley lowered their target price on shares of Asana from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.67.

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.