Asana (NYSE:ASAN) Receives Sector Weight Rating from KeyCorp

Asana (NYSE:ASAN - Get Free Report)'s stock had its "sector weight" rating reissued by research analysts at KeyCorp in a research note issued on Wednesday,Benzinga reports.

Several other equities research analysts have also weighed in on ASAN. JMP Securities reissued a "market outperform" rating and issued a $22.00 price objective on shares of Asana in a report on Wednesday. Jefferies Financial Group decreased their price objective on Asana from $19.00 to $15.00 and set a "hold" rating for the company in a report on Tuesday, March 11th. UBS Group decreased their price objective on Asana from $18.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Robert W. Baird lifted their price objective on Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Piper Sandler lifted their price objective on Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $15.97.

Asana Stock Down 2.6%

NYSE:ASAN traded down $0.40 during trading hours on Wednesday, hitting $14.72. 10,896,863 shares of the company traded hands, compared to its average volume of 2,892,673. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The firm's 50-day simple moving average is $16.32 and its 200-day simple moving average is $18.26. Asana has a one year low of $11.05 and a one year high of $27.77. The company has a market cap of $3.43 billion, a PE ratio of -13.14 and a beta of 1.23.

Asana (NYSE:ASAN - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. Asana had a negative return on equity of 86.84% and a negative net margin of 36.17%. The firm had revenue of $187.63 million during the quarter, compared to analyst estimates of $185.40 million. During the same period last year, the firm posted ($0.06) EPS. The business's revenue was up 8.6% compared to the same quarter last year. Equities analysts predict that Asana will post -1.09 earnings per share for the current year.

Insider Buying and Selling at Asana

In other news, Director Justin Rosenstein sold 25,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the transaction, the director now owns 922,309 shares of the company's stock, valued at approximately $11,888,563.01. The trade was a 2.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dustin A. Moskovitz acquired 50,000 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were acquired at an average cost of $15.84 per share, with a total value of $792,000.00. Following the acquisition, the chief executive officer now directly owns 51,398,436 shares of the company's stock, valued at $814,151,226.24. This represents a 0.10% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 2,074,507 shares of company stock valued at $30,025,743 in the last quarter. 61.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vident Advisory LLC purchased a new position in shares of Asana during the fourth quarter worth about $460,000. Ameriprise Financial Inc. purchased a new position in shares of Asana during the fourth quarter worth about $352,000. Brooklyn FI LLC purchased a new position in shares of Asana during the fourth quarter worth about $8,138,000. Virtu Financial LLC purchased a new position in shares of Asana during the fourth quarter worth about $2,349,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Asana by 49.2% during the fourth quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company's stock worth $1,572,000 after purchasing an additional 25,564 shares in the last quarter. Hedge funds and other 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.