Asana (NYSE:ASAN) Given New $15.00 Price Target at Robert W. Baird

Asana (NYSE:ASAN - Get Free Report) had its price objective upped by Robert W. Baird from $13.00 to $15.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Robert W. Baird's price target would indicate a potential upside of 0.87% from the stock's current price.

A number of other research firms also recently weighed in on ASAN. UBS Group cut their price target on Asana from $18.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Morgan Stanley cut shares of Asana from an "equal weight" rating to an "underweight" rating and set a $14.00 price target on the stock. in a research report on Tuesday, May 20th. Bank of America lowered their price objective on shares of Asana from $23.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday. DA Davidson dropped their price objective on Asana from $20.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Finally, Piper Sandler boosted their target price on Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a research note on Wednesday. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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's stock were exchanged, compared to its average volume of 2,915,618. Asana has a one year low of $11.05 and a one year high of $27.77. The stock 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. The firm has a fifty day moving average of $16.31 and a 200-day moving average of $18.30.

Asana (NYSE:ASAN - Get Free Report) last posted 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. The firm had revenue of $187.63 million for the quarter, compared to the consensus estimate of $185.40 million. Asana had a negative return on equity of 86.84% and a negative net margin of 36.17%. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) EPS. On average, equities research analysts predict that Asana will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Justin Rosenstein sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the sale, the director now owns 922,309 shares in the company, valued at $11,888,563.01. This represents a 2.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $12.91 per share, with a total value of $2,904,750.00. Following the acquisition, the chief executive officer now owns 48,123,436 shares in the company, valued at $621,273,558.76. The trade was a 0.47% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 2,074,507 shares of company stock worth $30,025,743. 61.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in Asana during the first quarter worth about $28,000. Quarry LP acquired a new position in shares of Asana during the 4th quarter worth approximately $29,000. AlphaQuest LLC lifted its holdings in Asana by 825.1% during the 1st quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock valued at $36,000 after purchasing an additional 2,203 shares during the last quarter. Bogart Wealth LLC bought a new stake in shares of Asana during the 4th quarter worth about $61,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Asana during the fourth quarter worth approximately $82,000. Institutional investors own 26.21% of the company's stock.

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.