Asana (NYSE:ASAN) Earns "Underperform" Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their underperform rating on shares of Asana (NYSE:ASAN - Free Report) in a research report released on Wednesday,Benzinga reports. They currently have a $10.00 price target on the stock.

A number of other research firms have also weighed in on ASAN. Bank of America lowered their price objective on shares of Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday. Robert W. Baird increased their price target on shares of Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday. KeyCorp restated a "sector weight" rating on shares of Asana in a research report on Wednesday. Jefferies Financial Group dropped their target price on Asana from $19.00 to $15.00 and set a "hold" rating on the stock in a research report on Tuesday, March 11th. Finally, Scotiabank reduced their price target on Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a report on Tuesday, March 11th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Asana has a consensus rating of "Hold" and an average target price of $15.97.

Asana Stock Performance

Shares of Asana stock traded up $0.15 during trading on Wednesday, reaching $14.87. The company's stock had a trading volume of 5,995,751 shares, compared to its average volume of 2,915,618. The company has a 50-day moving average price of $16.31 and a two-hundred day moving average price of $18.30. Asana has a fifty-two week low of $11.05 and a fifty-two week 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 announced its earnings results on Tuesday, June 3rd. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. The business had revenue of $187.63 million during the quarter, compared to analysts' expectations of $185.40 million. Asana had a negative net margin of 36.17% and a negative return on equity of 86.84%. The business's revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) earnings per share. On average, analysts forecast that Asana will post -1.09 EPS for the current year.

Insider Buying and Selling at Asana

In other news, CEO Dustin A. Moskovitz purchased 225,000 shares of the firm's stock in a transaction on Monday, March 17th. The shares were bought at an average cost of $14.02 per share, with a total value of $3,154,500.00. Following the purchase, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $263,413.25. Following the sale, the chief operating officer now owns 716,580 shares of the company's stock, 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 have acquired 2,074,507 shares of company stock valued at $30,025,743 over the last quarter. Corporate insiders own 61.28% of the company's stock.

Institutional Trading of Asana

A number of hedge funds have recently bought and sold shares of the company. Vise Technologies Inc. boosted its holdings in shares of Asana by 6.5% during the fourth quarter. Vise Technologies Inc. now owns 15,809 shares of the company's stock worth $320,000 after purchasing an additional 959 shares during the last quarter. SG Americas Securities LLC grew its holdings in Asana by 3.1% in the 1st quarter. SG Americas Securities LLC now owns 32,460 shares of the company's stock valued at $473,000 after buying an additional 974 shares during the period. Quarry LP acquired a new position in shares of Asana during the 4th quarter valued at about $29,000. Retirement Planning Co of New England Inc. lifted its holdings in shares of Asana by 12.7% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 16,512 shares of the company's stock worth $241,000 after acquiring an additional 1,855 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Asana in the first quarter worth approximately $28,000. Institutional investors and hedge funds 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.