Asana (NYSE:ASAN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Asana (NYSE:ASAN) from a buy rating to a strong-buy rating in a research report released on Saturday.

A number of other equities research analysts have also recently commented on ASAN. Morgan Stanley reduced their price target on shares of Asana from $14.00 to $8.00 and set an “underweight” rating for the company in a report on Tuesday, March 3rd. Royal Bank Of Canada upgraded shares of Asana from an “underperform” rating to a “sector perform” rating and set a $7.00 price target for the company in a report on Wednesday, April 1st. Jefferies Financial Group reduced their price target on shares of Asana from $15.00 to $8.00 and set a “hold” rating for the company in a report on Monday, February 23rd. Citigroup reduced their price target on shares of Asana from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, UBS Group reduced their price target on shares of Asana from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.46.

Asana Trading Up 6.1%

NYSE:ASAN opened at $5.80 on Friday. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -7.24 and a beta of 1.08. The firm has a fifty day simple moving average of $7.07 and a two-hundred day simple moving average of $11.06. Asana has a 12 month low of $5.38 and a 12 month high of $19.00.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Monday, March 2nd. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $205.57 million during the quarter, compared to analysts’ expectations of $205.13 million. Asana had a negative net margin of 23.90% and a negative return on equity of 77.05%. The firm’s revenue was up 9.2% compared to the same quarter last year. Equities analysts predict that Asana will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Asana

In other Asana news, CFO Sonalee Elizabeth Parekh sold 34,151 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $6.65, for a total value of $227,104.15. Following the transaction, the chief financial officer directly owned 933,998 shares of the company’s stock, valued at approximately $6,211,086.70. This trade represents a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Veronica Sosa sold 6,479 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $6.65, for a total transaction of $43,085.35. Following the completion of the transaction, the chief accounting officer directly owned 73,722 shares in the company, valued at $490,251.30. This trade represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 70,226 shares of company stock valued at $472,065. Corporate insiders own 61.28% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new position in shares of Asana during the third quarter valued at about $27,000. Farther Finance Advisors LLC lifted its position in shares of Asana by 119.7% during the third quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company’s stock valued at $34,000 after purchasing an additional 1,391 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Asana by 137.7% during the third quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock valued at $34,000 after purchasing an additional 1,427 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Asana during the fourth quarter valued at about $50,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of Asana by 64.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock valued at $59,000 after purchasing an additional 1,706 shares in the last quarter. 26.21% of the stock is owned by institutional investors.

About Asana

Asana, Inc (NYSE: ASAN) is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana’s platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company’s cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.