Asana (NYSE:ASAN) Hits New 52-Week High at $107.10

Asana, Inc. (NYSE:ASAN) reached a new 52-week high on Wednesday . The stock traded as high as $107.10 and last traded at $104.08, with a volume of 4283 shares changing hands. The stock had previously closed at $106.50.

A number of research firms have recently weighed in on ASAN. KeyCorp upped their price objective on Asana from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, September 2nd. Wolfe Research lifted their price objective on Asana from $48.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, July 19th. JMP Securities upped their target price on shares of Asana from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, September 2nd. Morgan Stanley lifted their price target on shares of Asana from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Friday, June 4th. Finally, Jefferies Financial Group increased their price objective on shares of Asana from $90.00 to $115.00 and gave the company a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Asana has a consensus rating of “Buy” and an average price target of $65.79.

The company’s 50-day simple moving average is $76.87 and its 200-day simple moving average is $51.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.10 and a current ratio of 2.10. The company has a market capitalization of $19.31 billion and a PE ratio of -58.84.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Tuesday, August 31st. The company reported ($0.23) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.03. The firm had revenue of $89.50 million during the quarter, compared to the consensus estimate of $82.26 million. Asana had a negative return on equity of 288.11% and a negative net margin of 89.91%. Asana’s quarterly revenue was up 72.1% on a year-over-year basis. Analysts expect that Asana, Inc. will post -1.44 EPS for the current year.

In related news, insider Eleanor B. Lacey sold 15,600 shares of the company’s stock in a transaction that occurred on Friday, June 18th. The stock was sold at an average price of $55.00, for a total value of $858,000.00. Following the sale, the insider now owns 144,959 shares in the company, valued at approximately $7,972,745. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dustin A. Moskovitz bought 160,000 shares of the firm’s stock in a transaction on Friday, June 18th. The shares were purchased at an average price of $55.73 per share, for a total transaction of $8,916,800.00. Following the completion of the transaction, the chief executive officer now owns 2,356,724 shares of the company’s stock, valued at approximately $131,340,228.52. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,460,000 shares of company stock valued at $106,409,700 and sold 136,632 shares valued at $9,280,818. Corporate insiders own 54.43% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Holocene Advisors LP purchased a new position in Asana during the first quarter worth approximately $5,002,000. Arizona State Retirement System acquired a new stake in Asana during the second quarter worth about $1,077,000. Man Group plc purchased a new position in shares of Asana in the 1st quarter worth about $1,476,000. Oppenheimer & Co. Inc. raised its holdings in Asana by 133.1% in the second quarter. Oppenheimer & Co. Inc. now owns 20,460 shares of the company’s stock valued at $1,269,000 after buying an additional 11,681 shares during the period. Finally, Champlain Investment Partners LLC lifted its position in Asana by 51.7% during the first quarter. Champlain Investment Partners LLC now owns 5,044,650 shares of the company’s stock valued at $144,176,000 after buying an additional 1,719,310 shares in the last quarter. 33.87% of the stock is currently owned by institutional investors and hedge funds.

About Asana (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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