Asana, Inc. (NYSE:ASAN) Insider Eleanor B. Lacey Sells 4,977 Shares of Stock

Asana, Inc. (NYSE:ASAN) insider Eleanor B. Lacey sold 4,977 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $58,678.83. Following the completion of the transaction, the insider now owns 370,333 shares of the company’s stock, valued at $4,366,226.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Asana Price Performance

Shares of Asana stock opened at $11.89 on Wednesday. The company has a fifty day moving average price of $13.23 and a 200 day moving average price of $14.00. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $23.44. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -10.16 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 company had revenue of $179.21 million during the quarter, compared to analysts’ expectations of $177.68 million. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.31) EPS. Equities research analysts forecast that Asana, Inc. will post -1.14 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

Several brokerages have weighed in on ASAN. Oppenheimer cut their price target on Asana from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Jefferies Financial Group lowered their price objective on shares of Asana from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, May 31st. JPMorgan Chase & Co. lowered 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 Wednesday, September 4th. HSBC raised shares of Asana from a “reduce” rating to a “hold” rating and lowered their price objective for the company from $16.00 to $14.00 in a research note on Monday, June 3rd. Finally, JMP Securities lowered their price objective on shares of Asana from $27.00 to $21.00 and set a “market outperform” rating for the company in a research note on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.67.

Hedge Funds Weigh In On Asana

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASAN. Gilder Gagnon Howe & Co. LLC purchased a new position in Asana in the 4th quarter valued at about $25,246,000. Point72 Asset Management L.P. purchased a new position in Asana in the 2nd quarter valued at about $17,100,000. Champlain Investment Partners LLC boosted its position in Asana by 26.9% in the 1st quarter. Champlain Investment Partners LLC now owns 4,032,035 shares of the company’s stock valued at $62,456,000 after buying an additional 854,355 shares during the last quarter. Vanguard Group Inc. boosted its position in Asana by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock valued at $144,462,000 after buying an additional 490,823 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Asana in the 4th quarter valued at about $7,500,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

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.