Asana (NYSE:ASAN) Shares Gap Up to $12.22

Shares of Asana, Inc. (NYSE:ASAN) gapped up prior to trading on Monday . The stock had previously closed at $12.22, but opened at $12.55. Asana shares last traded at $12.50, with a volume of 195,564 shares traded.

Wall Street Analyst Weigh In

ASAN has been the topic of several recent research reports. HSBC raised Asana from a “reduce” rating to a “hold” rating and decreased their price objective for the stock from $16.00 to $14.00 in a report on Monday, June 3rd. KeyCorp dropped their price objective on shares of Asana from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. Jefferies Financial Group reduced their price objective on shares of Asana from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, May 31st. JMP Securities reissued a “market outperform” rating and issued a $27.00 target price on shares of Asana in a research note on Monday, July 15th. Finally, Piper Sandler cut their price target on shares of Asana from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.17.

Asana Stock Up 2.6 %

The company has a market cap of $2.86 billion, a P/E ratio of -10.44 and a beta of 1.16. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $13.45 and a 200 day moving average price of $15.32.

Asana (NYSE:ASAN) last issued its quarterly earnings data on Thursday, May 30th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. Asana had a negative net margin of 38.55% and a negative return on equity of 77.48%. The firm had revenue of $172.45 million for the quarter, compared to analyst estimates of $168.53 million. Equities research analysts forecast that Asana, Inc. will post -1.05 earnings per share for the current year.

Insider Activity

In other news, CFO Tim M. Wan sold 5,000 shares of Asana stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $15.00, for a total transaction of $75,000.00. Following the completion of the sale, the chief financial officer now owns 1,063,909 shares in the company, valued at approximately $15,958,635. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Anne Raimondi sold 26,588 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $11.44, for a total value of $304,166.72. Following the completion of the transaction, the chief operating officer now directly owns 790,894 shares in the company, valued at approximately $9,047,827.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Tim M. Wan sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $15.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now owns 1,063,909 shares in the company, valued at $15,958,635. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,443 shares of company stock valued at $1,026,976. Company insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

Several institutional investors and hedge funds have recently bought and sold shares of ASAN. Headlands Technologies LLC raised its stake in shares of Asana by 327.9% during the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after purchasing an additional 2,220 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its position in Asana by 26.2% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock worth $61,000 after acquiring an additional 669 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new stake in Asana in the second quarter valued at $65,000. Daiwa Securities Group Inc. grew its position in shares of Asana by 26.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after acquiring an additional 1,028 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in shares of Asana in the 4th quarter valued at about $197,000. Institutional investors own 26.21% of the company’s stock.

Asana Company Profile

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.