Asana, Inc. (NYSE:ASAN) Insider Eleanor B. Lacey Sells 9,308 Shares

Asana, Inc. (NYSE:ASAN) insider Eleanor B. Lacey sold 9,308 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $111,602.92. Following the sale, the insider now owns 375,310 shares in the company, valued at approximately $4,499,966.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Asana Price Performance

NYSE ASAN opened at $11.72 on Friday. The business’s fifty day moving average is $13.12 and its 200 day moving average is $13.97. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $23.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $2.67 billion, a PE ratio of -10.02 and a beta of 1.16.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $179.21 million for the quarter, compared to analysts’ expectations of $177.68 million. Asana had a negative return on equity of 81.88% and a negative net margin of 37.73%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.31) EPS. Sell-side analysts predict that Asana, Inc. will post -1.14 earnings per share for the current year.

Asana declared that its board has authorized a share buyback program on Thursday, June 20th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to repurchase up to 5.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Asana

Hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC boosted its holdings in Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after buying an additional 2,220 shares during the period. Edmond DE Rothschild Holding S.A. lifted its position in shares of Asana by 26.2% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock valued at $61,000 after acquiring an additional 669 shares in the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of Asana in the second quarter worth about $65,000. Daiwa Securities Group Inc. grew its position in shares of Asana by 26.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after purchasing an additional 1,028 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Asana by 139.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 6,673 shares of the company’s stock valued at $93,000 after purchasing an additional 3,885 shares during the period. 26.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ASAN has been the topic of several recent analyst reports. Morgan Stanley cut their target price on Asana from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 20th. Oppenheimer reduced their price objective on Asana from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. KeyCorp lowered their target price on shares of Asana from $12.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. dropped their price target on shares of Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday, September 4th. Finally, Robert W. Baird decreased their price objective on shares of Asana from $20.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.67.

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.