Asana (NYSE:ASAN) Price Target Raised to $16.50 at Scotiabank

Asana (NYSE:ASAN - Free Report) had its price objective upped by Scotiabank from $12.00 to $16.50 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

A number of other analysts have also commented on ASAN. JPMorgan Chase & Co. reduced their price objective on shares of Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a research note on Tuesday, March 11th. Morgan Stanley downgraded shares of Asana from an "equal weight" rating to an "underweight" rating and set a $14.00 price target for the company. in a research report on Tuesday, May 20th. Jefferies Financial Group decreased their price objective on shares of Asana from $19.00 to $15.00 and set a "hold" rating for the company in a research note on Tuesday, March 11th. JMP Securities reissued a "market outperform" rating and set a $22.00 target price on shares of Asana in a research note on Wednesday. Finally, Bank of America reduced their target price on Asana from $23.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $15.97.

Asana Price Performance

Shares of NYSE ASAN traded up $0.15 during trading on Wednesday, hitting $14.87. The company had a trading volume of 5,995,751 shares, compared to its average volume of 2,915,618. Asana has a 52 week low of $11.05 and a 52 week high of $27.77. The business's 50-day moving average is $16.31 and its 200 day moving average is $18.30. The company has a market cap of $3.47 billion, a P/E ratio of -13.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49.

Asana (NYSE:ASAN - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $187.63 million for the quarter, compared to analysts' expectations of $185.40 million. During the same period in the previous year, the firm posted ($0.06) EPS. The company's quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts predict that Asana will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Asana

In other Asana news, Director Justin Rosenstein sold 25,000 shares of the business'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 value of $322,250.00. Following the sale, the director now owns 922,309 shares in the company, valued at approximately $11,888,563.01. The trade was a 2.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Anne Raimondi sold 18,775 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total value of $263,413.25. Following the transaction, the chief operating officer now directly 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 position. The disclosure for this sale can be found here. Insiders have bought 2,074,507 shares of company stock valued at $30,025,743 in the last 90 days. 61.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Vise Technologies Inc. lifted its position in Asana by 6.5% during the 4th quarter. Vise Technologies Inc. now owns 15,809 shares of the company's stock worth $320,000 after buying an additional 959 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of 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 acquiring an additional 974 shares in the last quarter. Quarry LP acquired a new stake in shares of Asana in the fourth quarter valued at about $29,000. Retirement Planning Co of New England Inc. raised its holdings in Asana by 12.7% during the first 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 in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in Asana during the first quarter worth about $28,000. 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.