Asana (NYSE:ASAN – Get Free Report)’s stock had its “neutral” rating reaffirmed by equities researchers at DA Davidson in a research report issued on Wednesday, PriceTargets.com reports. DA Davidson also issued estimates for Asana’s FY2024 earnings at ($1.34) EPS and FY2025 earnings at ($1.09) EPS.

Several other research analysts have also recently issued reports on ASAN. FBN Securities reduced their target price on shares of Asana from $28.00 to $23.00 in a report on Tuesday, October 3rd. HSBC cut shares of Asana from a “hold” rating to a “reduce” rating and set a $18.00 price objective for the company. in a report on Wednesday. Oppenheimer reaffirmed an “outperform” rating and issued a $28.00 price objective on shares of Asana in a report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and issued a $30.00 price objective on shares of Asana in a report on Wednesday, September 6th. Finally, Piper Sandler reaffirmed an “underweight” rating and issued a $16.00 price objective on shares of Asana in a report on Wednesday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Asana presently has an average rating of “Hold” and an average price target of $20.86.

Check Out Our Latest Report on Asana

Asana Trading Down 3.6 %

NYSE:ASAN opened at $18.72 on Wednesday. Asana has a 12 month low of $11.32 and a 12 month high of $26.27. The firm has a fifty day simple moving average of $19.41 and a 200-day simple moving average of $20.78. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $4.11 billion, a P/E ratio of -12.16 and a beta of 1.30.

Asana (NYSE:ASAN – Get Free Report) last posted its quarterly earnings data on Tuesday, December 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.07. Asana had a negative net margin of 54.21% and a negative return on equity of 87.79%. The business had revenue of $166.50 million during the quarter, compared to the consensus estimate of $164.09 million. During the same period in the previous year, the firm posted ($0.49) earnings per share. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities research analysts anticipate that Asana will post -1.34 earnings per share for the current year.

Insider Buying and Selling

In other Asana news, CEO Dustin A. Moskovitz purchased 237,015 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were purchased at an average cost of $17.50 per share, for a total transaction of $4,147,762.50. Following the completion of the transaction, the chief executive officer now owns 47,898,436 shares of the company’s stock, valued at approximately $838,222,630. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Dustin A. Moskovitz bought 237,015 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were bought at an average cost of $17.50 per share, for a total transaction of $4,147,762.50. Following the acquisition, the chief executive officer now directly owns 47,898,436 shares of the company’s stock, valued at approximately $838,222,630. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eleanor B. Lacey sold 3,882 shares of the business’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $17.54, for a total transaction of $68,090.28. Following the completion of the transaction, the insider now owns 237,533 shares in the company, valued at $4,166,328.82. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 2,893,766 shares of company stock worth $51,368,048 and have sold 67,815 shares worth $1,192,325. 63.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Asana

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC lifted its holdings in shares of Asana by 25.5% in the 3rd quarter. CWM LLC now owns 2,772 shares of the company’s stock worth $51,000 after acquiring an additional 563 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Asana by 5.8% in the 2nd quarter. National Bank of Canada FI now owns 11,290 shares of the company’s stock worth $248,000 after acquiring an additional 620 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of Asana by 11.9% in the 1st quarter. Virtu Financial LLC now owns 6,195 shares of the company’s stock worth $248,000 after acquiring an additional 658 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Asana by 118.7% in the 1st quarter. US Bancorp DE now owns 1,216 shares of the company’s stock worth $26,000 after acquiring an additional 660 shares during the last quarter. Finally, Corton Capital Inc. lifted its holdings in shares of Asana by 6.5% in the 3rd quarter. Corton Capital Inc. now owns 11,017 shares of the company’s stock worth $202,000 after acquiring an additional 669 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

About Asana (Get Free Report)

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; and manages product launches, marketing campaigns, and organization-wide goal settings.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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Original: MarketBeat News Feed: Asana (NYSE:ASAN) Given Neutral Rating at DA Davidson