Asana Target of Unusually Large Options Trading (NYSE:ASAN)

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Asana, Inc. (NYSE:ASANGet Rating) was the recipient of some unusual options trading activity on Monday. Investors purchased 8,523 call options on the stock. This represents an increase of 35% compared to the average daily volume of 6,325 call options.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ASAN shares. Jefferies Financial Group decreased their price objective on shares of Asana from $40.00 to $23.00 in a research report on Monday, May 23rd. Morgan Stanley decreased their price objective on shares of Asana from $38.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, June 3rd. Wolfe Research increased their price objective on shares of Asana from $22.00 to $23.75 and gave the stock an “outperform” rating in a research report on Thursday, September 8th. Robert W. Baird decreased their price objective on shares of Asana from $65.00 to $31.00 and set an “outperform” rating for the company in a research report on Friday, June 3rd. Finally, Royal Bank of Canada raised their price target on shares of Asana from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, September 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.23.

Asana Stock Up 16.4 %

Asana stock opened at $28.71 on Tuesday. Asana has a 1-year low of $16.19 and a 1-year high of $145.79. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of -14.65 and a beta of 1.82. The firm’s fifty day moving average price is $20.76 and its two-hundred day moving average price is $26.87. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.35.

Asana (NYSE:ASANGet Rating) last released its quarterly earnings data on Wednesday, September 7th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.05. Asana had a negative net margin of 79.34% and a negative return on equity of 212.28%. The firm had revenue of $134.90 million for the quarter, compared to analyst estimates of $127.27 million. During the same period last year, the firm earned ($0.36) earnings per share. The business’s quarterly revenue was up 50.8% compared to the same quarter last year. On average, equities research analysts predict that Asana will post -2.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Asana

In other Asana news, CFO Tim M. Wan sold 3,203 shares of the company’s stock in a transaction that occurred on Wednesday, June 22nd. The shares were sold at an average price of $18.20, for a total value of $58,294.60. Following the completion of the transaction, the chief financial officer now directly owns 609,276 shares in the company, valued at approximately $11,088,823.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Asana news, CFO Tim M. Wan sold 3,203 shares of the company’s stock in a transaction that occurred on Wednesday, June 22nd. The shares were sold at an average price of $18.20, for a total value of $58,294.60. Following the completion of the transaction, the chief financial officer now directly owns 609,276 shares in the company, valued at approximately $11,088,823.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Dustin A. Moskovitz purchased 19,273,127 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was acquired at an average price of $18.16 per share, with a total value of $349,999,986.32. Following the completion of the transaction, the chief executive officer now owns 39,112,803 shares in the company, valued at approximately $710,288,502.48. The disclosure for this purchase can be found here. Corporate insiders own 61.87% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ASAN. Champlain Investment Partners LLC lifted its position in shares of Asana by 26.5% during the first quarter. Champlain Investment Partners LLC now owns 5,708,224 shares of the company’s stock valued at $228,158,000 after purchasing an additional 1,194,595 shares in the last quarter. Himension Capital Singapore PTE. LTD. lifted its position in shares of Asana by 152.1% during the second quarter. Himension Capital Singapore PTE. LTD. now owns 4,231,366 shares of the company’s stock valued at $74,387,000 after purchasing an additional 2,552,901 shares in the last quarter. Discovery Value Fund lifted its position in shares of Asana by 71.1% during the first quarter. Discovery Value Fund now owns 2,238,543 shares of the company’s stock valued at $89,475,000 after purchasing an additional 929,959 shares in the last quarter. State Street Corp lifted its position in shares of Asana by 6.5% during the first quarter. State Street Corp now owns 2,175,814 shares of the company’s stock valued at $86,967,000 after purchasing an additional 131,911 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Asana by 26.6% during the first quarter. Renaissance Technologies LLC now owns 1,577,500 shares of the company’s stock worth $63,053,000 after buying an additional 331,400 shares during the last quarter. 28.22% of the stock is owned by institutional investors.

About Asana

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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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