Asana (NYSE:ASAN) Given New $18.00 Price Target at UBS Group

Asana (NYSE:ASAN - Free Report) had its price target hoisted by UBS Group from $14.00 to $18.00 in a report published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently issued reports on ASAN. Jefferies Financial Group cut their price objective on Asana from $19.00 to $15.00 and set a "hold" rating for the company in a research report on Tuesday, March 11th. JPMorgan Chase & Co. reduced their target price on shares of Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a report on Tuesday, March 11th. Bank of America reduced their target price on shares of Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday. JMP Securities reiterated a "market outperform" rating and set a $22.00 price objective on shares of Asana in a report on Wednesday. Finally, Robert W. Baird increased their price objective on shares of Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $15.97.

Asana Stock Down 2.6%

NYSE ASAN traded down $0.40 on Wednesday, hitting $14.72. 10,896,863 shares of the stock were exchanged, compared to its average volume of 2,892,673. The company has a market cap of $3.43 billion, a PE ratio of -13.14 and a beta of 1.23. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The company has a 50-day moving average price of $16.32 and a 200-day moving average price of $18.26.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. Asana had a negative net margin of 36.17% and a negative return on equity of 86.84%. The company had revenue of $187.63 million for the quarter, compared to the consensus estimate of $185.40 million. During the same period last year, the firm posted ($0.06) EPS. Asana's revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts anticipate that Asana will post -1.09 EPS for the current fiscal year.

Insider Activity

In other Asana news, CEO Dustin A. Moskovitz acquired 225,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average price of $14.02 per share, with a total value of $3,154,500.00. Following the transaction, the chief executive officer now owns 48,573,436 shares of the company's stock, valued at approximately $680,999,572.72. This trade represents a 0.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Anne Raimondi sold 18,775 shares of Asana stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $14.03, for a total value of $263,413.25. Following the sale, the chief operating officer now directly owns 716,580 shares in the company, valued at approximately $10,053,617.40. This trade represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 2,074,507 shares of company stock worth $30,025,743 in the last three months. 61.28% of the stock is owned by insiders.

Institutional Trading of Asana

A number of hedge funds have recently modified their holdings of ASAN. Arrowstreet Capital Limited Partnership acquired a new position in shares of Asana in the fourth quarter valued at $38,966,000. Acadian Asset Management LLC lifted its position in Asana by 8,850.6% in the first quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company's stock worth $16,950,000 after purchasing an additional 1,151,369 shares during the period. Paradice Investment Management LLC bought a new position in Asana in the fourth quarter worth $22,507,000. Two Sigma Investments LP lifted its position in Asana by 288.1% in the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock worth $28,481,000 after purchasing an additional 1,043,047 shares during the period. Finally, Voya Investment Management LLC lifted its position in Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock worth $254,166,000 after purchasing an additional 937,726 shares during the period. 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.