Asana (NYSE:ASAN) Shares Down 10.7%

Shares of Asana, Inc. (NYSE:ASANGet Rating) were down 10.7% during trading on Thursday . The stock traded as low as $16.76 and last traded at $16.76. Approximately 28,056 shares traded hands during trading, a decline of 99% from the average daily volume of 4,968,174 shares. The stock had previously closed at $18.76.

Several analysts recently commented on ASAN shares. Oppenheimer reduced their target price on shares of Asana from $60.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, June 3rd. Morgan Stanley reduced their target price on shares of Asana from $38.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, June 3rd. Robert W. Baird dropped their price objective on shares of Asana from $65.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, June 3rd. Piper Sandler dropped their price objective on shares of Asana from $55.00 to $35.00 and set an “overweight” rating for the company in a research note on Friday, June 3rd. Finally, Royal Bank of Canada dropped their price objective on shares of Asana from $60.00 to $38.00 and set a “sector perform” rating for the company in a research note on Thursday, March 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $46.50.

The firm’s 50-day moving average price is $25.43 and its 200 day moving average price is $46.89. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of -9.46 and a beta of 1.95. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.21.

Asana (NYSE:ASANGet Rating) last issued its earnings results on Thursday, June 2nd. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.06. The company had revenue of $120.65 million during the quarter, compared to analysts’ expectations of $115.11 million. Asana had a negative net margin of 77.31% and a negative return on equity of 144.13%. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.31) EPS. As a group, equities research analysts anticipate that Asana, Inc. will post -2.15 earnings per share for the current fiscal year.

In related news, insider Eleanor B. Lacey sold 8,333 shares of Asana stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $40.40, for a total transaction of $336,653.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eleanor B. Lacey sold 4,167 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $27.00, for a total transaction of $112,509.00. Following the sale, the insider now directly owns 165,076 shares in the company, valued at $4,457,052. The disclosure for this sale can be found here. Insiders have sold a total of 16,667 shares of company stock worth $572,089 over the last ninety days. 54.43% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. IHT Wealth Management LLC grew its holdings in Asana by 3.8% during the 4th quarter. IHT Wealth Management LLC now owns 4,349 shares of the company’s stock worth $324,000 after acquiring an additional 158 shares during the last quarter. HM Payson & Co. grew its holdings in Asana by 265.0% during the 4th quarter. HM Payson & Co. now owns 365 shares of the company’s stock worth $27,000 after acquiring an additional 265 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in Asana by 70.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 707 shares of the company’s stock worth $52,000 after acquiring an additional 292 shares during the last quarter. Profund Advisors LLC grew its holdings in Asana by 10.2% during the 4th quarter. Profund Advisors LLC now owns 3,201 shares of the company’s stock worth $239,000 after acquiring an additional 296 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Asana by 4.9% in the 4th quarter. CIBC Asset Management Inc now owns 6,886 shares of the company’s stock valued at $513,000 after purchasing an additional 320 shares during the last quarter. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Asana Company Profile (NYSE:ASAN)

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. The company's platform enables teams to orchestrate work from daily tasks to cross-functional strategic initiatives; and manages product launches, marketing campaigns, and organization-wide goal settings.

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