Stock Traders Buy High Volume of Call Options on Asana (NYSE:ASAN)

Asana, Inc. (NYSE:ASAN – Get Rating) saw unusually large options trading activity on Tuesday. Traders acquired 13,222 call options on the stock. This represents an increase of 122% compared to the average daily volume of 5,968 call options.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ASAN. Jefferies Financial Group upped their price target on shares of Asana from $15.00 to $23.00 in a research note on Thursday, March 9th. Robert W. Baird lifted their price objective on shares of Asana from $15.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, March 9th. Credit Suisse Group reiterated a “neutral” rating and issued a $18.00 target price on shares of Asana in a report on Monday, March 13th. JMP Securities reiterated a “market outperform” rating and issued a $28.00 target price on shares of Asana in a research report on Thursday, April 6th. Finally, Morgan Stanley upped their price objective on Asana from $19.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, March 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.84.

Insider Transactions at Asana

In other news, CFO Tim M. Wan sold 20,000 shares of the stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $21.31, for a total value of $426,200.00. Following the completion of the sale, the chief financial officer now owns 607,051 shares in the company, valued at $12,936,256.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Asana news, insider Eleanor B. Lacey sold 1,321 shares of Asana stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $20.86, for a total transaction of $27,556.06. Following the completion of the sale, the insider now directly owns 165,300 shares in the company, valued at $3,448,158. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Tim M. Wan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $21.31, for a total transaction of $426,200.00. Following the completion of the sale, the chief financial officer now owns 607,051 shares of the company’s stock, valued at $12,936,256.81. The disclosure for this sale can be found here. Insiders sold a total of 25,346 shares of company stock worth $538,214 over the last three months. 61.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Asana

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AlphaCrest Capital Management LLC acquired a new position in Asana during the first quarter worth approximately $441,000. Bank of Montreal Can boosted its stake in shares of Asana by 28.8% in the first quarter. Bank of Montreal Can now owns 88,411 shares of the company’s stock valued at $3,689,000 after buying an additional 19,777 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Asana by 53.5% in the first quarter. MetLife Investment Management LLC now owns 39,495 shares of the company’s stock valued at $1,579,000 after buying an additional 13,757 shares in the last quarter. Panagora Asset Management Inc. boosted its position in Asana by 170.0% during the first quarter. Panagora Asset Management Inc. now owns 14,596 shares of the company’s stock worth $583,000 after purchasing an additional 9,191 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Asana by 2.3% during the first quarter. Rhumbline Advisers now owns 76,708 shares of the company’s stock worth $3,066,000 after purchasing an additional 1,716 shares in the last quarter. Institutional investors and hedge funds own 28.22% of the company’s stock.

Asana Stock Performance

Shares of ASAN opened at $20.88 on Wednesday. The stock has a 50-day simple moving average of $18.85 and a 200-day simple moving average of $16.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.99 and a current ratio of 1.99. The stock has a market capitalization of $4.48 billion, a PE ratio of -10.24 and a beta of 1.34. Asana has a 1 year low of $11.32 and a 1 year high of $29.51.

Asana (NYSE:ASAN – Get Rating) last announced its quarterly earnings data on Wednesday, March 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.07. The business had revenue of $150.23 million during the quarter, compared to analysts’ expectations of $145.13 million. Asana had a negative return on equity of 159.46% and a negative net margin of 74.52%. On average, analysts predict that Asana will post -1.48 earnings per share for the current fiscal year.

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.