UBS Group Issues Positive Forecast for Asana (NYSE:ASAN) Stock Price

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

Several other analysts have also recently commented on ASAN. JMP Securities reiterated a "market outperform" rating and set a $22.00 price target on shares of Asana in a research report on Wednesday. Piper Sandler raised their price target on shares of Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday. DA Davidson cut their price objective on shares of Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Jefferies Financial Group lowered their target price on Asana from $19.00 to $15.00 and set a "hold" rating on the stock in a report on Tuesday, March 11th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Asana in a report on Wednesday. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Asana has a consensus rating of "Hold" and a consensus target price of $15.97.

Asana Price Performance

NYSE:ASAN traded up $0.15 during trading hours on Wednesday, reaching $14.87. 5,995,751 shares of the company were exchanged, compared to its average volume of 2,915,618. The stock's 50-day moving average is $16.31 and its 200-day moving average is $18.30. Asana has a twelve month low of $11.05 and a twelve month high of $27.77. The firm has a market cap of $3.47 billion, a PE ratio of -13.28 and a beta of 1.23. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $187.63 million for the quarter, compared to analyst estimates of $185.40 million. During the same period last year, the company posted ($0.06) EPS. Asana's quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Asana will post -1.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Asana news, COO Anne Raimondi sold 18,775 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $14.03, for a total value of $263,413.25. Following the completion of the transaction, the chief operating officer now owns 716,580 shares of the company's stock, valued at $10,053,617.40. This trade represents a 2.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Dustin A. Moskovitz acquired 50,000 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were bought at an average cost of $15.84 per share, for a total transaction of $792,000.00. Following the transaction, the chief executive officer now directly owns 51,398,436 shares of the company's stock, valued at approximately $814,151,226.24. This trade represents a 0.10% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 2,074,507 shares of company stock worth $30,025,743 over the last ninety days. Corporate insiders own 61.28% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership purchased a new position in shares of Asana in the 4th quarter valued at about $38,966,000. Acadian Asset Management LLC grew its holdings in Asana by 8,850.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company's stock worth $16,950,000 after acquiring an additional 1,151,369 shares in the last quarter. Paradice Investment Management LLC purchased a new stake in shares of Asana in the 4th quarter valued at approximately $22,507,000. Two Sigma Investments LP increased its position in shares of Asana by 288.1% in the 4th quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock valued at $28,481,000 after purchasing an additional 1,043,047 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Asana by 8.1% in the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after purchasing an additional 937,726 shares in the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

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.