Asana (NYSE:ASAN) Sets New 1-Year High at $72.85

Asana, Inc. (NYSE:ASAN) hit a new 52-week high on Thursday . The stock traded as high as $72.85 and last traded at $71.95, with a volume of 12103 shares changing hands. The stock had previously closed at $69.69.

ASAN has been the subject of several analyst reports. Royal Bank of Canada raised their price objective on Asana from $39.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, June 4th. Jefferies Financial Group lifted their price target on Asana from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, June 18th. Zacks Investment Research cut Asana from a “hold” rating to a “sell” rating in a report on Wednesday, June 9th. Robert W. Baird lifted their price target on Asana from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, June 10th. Finally, Wolfe Research lifted their price target on Asana from $48.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $48.07.

The stock has a market cap of $12.00 billion and a P/E ratio of -48.15. The company has a fifty day moving average of $50.83.

Asana (NYSE:ASAN) last issued its quarterly earnings data on Wednesday, June 2nd. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.06. The firm had revenue of $76.67 million for the quarter, compared to the consensus estimate of $70.14 million. During the same quarter in the prior year, the firm earned ($0.31) EPS. The company’s revenue was up 60.7% on a year-over-year basis. As a group, analysts expect that Asana, Inc. will post -1.46 EPS for the current year.

In other news, CFO Tim M. Wan sold 20,000 shares of Asana stock in a transaction that occurred on Monday, June 21st. The shares were sold at an average price of $59.34, for a total value of $1,186,800.00. Following the completion of the sale, the chief financial officer now directly owns 498,103 shares in the company, valued at $29,557,432.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Dustin A. Moskovitz purchased 250,000 shares of the company’s stock in a transaction dated Monday, June 7th. The stock was acquired at an average price of $39.69 per share, with a total value of $9,922,500.00. Following the completion of the transaction, the chief executive officer now owns 836,561 shares of the company’s stock, valued at approximately $33,203,106.09. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 1,940,000 shares of company stock valued at $101,122,600 and sold 91,672 shares valued at $4,143,279. 54.43% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Close Asset Management Ltd acquired a new position in Asana during the first quarter valued at approximately $29,000. Valeo Financial Advisors LLC raised its position in Asana by 150.4% during the first quarter. Valeo Financial Advisors LLC now owns 1,217 shares of the company’s stock valued at $35,000 after purchasing an additional 731 shares in the last quarter. Global Wealth Management Investment Advisory Inc. raised its position in Asana by 87.7% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 1,295 shares of the company’s stock valued at $38,000 after purchasing an additional 605 shares in the last quarter. HM Payson & Co. acquired a new position in Asana during the fourth quarter valued at approximately $40,000. Finally, Captrust Financial Advisors raised its position in Asana by 19,625.0% during the fourth quarter. Captrust Financial Advisors now owns 1,578 shares of the company’s stock valued at $47,000 after purchasing an additional 1,570 shares in the last quarter. Institutional investors and hedge funds own 26.49% of the company’s stock.

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. It provides a work management platform as software as service that enables individuals and teams to get work done faster while enhancing employee engagement by allowing everyone to see how their work connects to the mission of an organization.

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