Asana (NYSE:ASAN) Now Covered by Scotiabank

Scotiabank started coverage on shares of Asana (NYSE:ASAN) in a research note published on Monday morning, MarketBeat Ratings reports. The firm issued a sector perform rating and a $15.00 target price on the stock.

Several other brokerages also recently commented on ASAN. Morgan Stanley lowered their target price on shares of Asana from $19.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, August 20th. JPMorgan Chase & Co. cut their target price on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday, September 4th. DA Davidson increased their price target on Asana from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. UBS Group cut their price objective on Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, KeyCorp decreased their target price on Asana from $12.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.27.

Asana Trading Up 5.7 %

NYSE:ASAN opened at $14.73 on Monday. Asana has a one year low of $11.05 and a one year high of $23.44. The company has a market cap of $3.36 billion, a PE ratio of -12.81 and a beta of 1.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a 50-day moving average of $12.48 and a 200-day moving average of $13.26.

Asana (NYSE:ASAN) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. Asana had a negative return on equity of 81.88% and a negative net margin of 37.73%. The firm had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.68 million. During the same period in the prior year, the business posted ($0.31) earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts expect that Asana will post -1.14 EPS for the current fiscal year.

Insider Buying and Selling at Asana

In related news, insider Eleanor B. Lacey sold 4,977 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $58,678.83. Following the sale, the insider now owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. This represents a 1.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Anne Raimondi sold 29,807 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the completion of the transaction, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. The trade was a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,092 shares of company stock valued at $527,668 in the last 90 days. 63.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Asana

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new position in Asana during the second quarter worth about $17,100,000. Vanguard Group Inc. increased its position in shares of Asana by 5.6% in the first quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock worth $144,462,000 after purchasing an additional 490,823 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Asana in the second quarter valued at approximately $5,169,000. Marshall Wace LLP bought a new stake in Asana during the second quarter valued at approximately $3,159,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Asana during the second quarter valued at approximately $3,050,000. Hedge funds and other 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.