Asana, Inc. (NYSE:ASAN) Given Average Rating of “Hold” by Analysts

Asana, Inc. (NYSE:ASANGet Free Report) has received an average rating of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $18.75.

A number of equities research analysts have recently commented on ASAN shares. HSBC raised shares of Asana from a “reduce” rating to a “hold” rating and reduced their target price for the company from $16.00 to $14.00 in a report on Monday, June 3rd. Jefferies Financial Group reduced their target price on shares of Asana from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, May 31st. Bank of America started coverage on shares of Asana in a report on Monday, February 26th. They issued a “buy” rating and a $25.00 target price for the company. UBS Group reduced their target price on shares of Asana from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Finally, KeyCorp reduced their target price on shares of Asana from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Friday, May 31st.

Read Our Latest Analysis on ASAN

Insider Activity

In other news, CFO Tim M. Wan sold 10,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the sale, the chief financial officer now directly owns 753,888 shares in the company, valued at $11,308,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Eleanor B. Lacey sold 4,462 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $15.47, for a total transaction of $69,027.14. Following the transaction, the insider now owns 220,739 shares of the company’s stock, valued at $3,414,832.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tim M. Wan sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $15.00, for a total transaction of $150,000.00. Following the transaction, the chief financial officer now directly owns 753,888 shares in the company, valued at approximately $11,308,320. The disclosure for this sale can be found here. Insiders have sold 24,462 shares of company stock worth $369,027 over the last ninety days. 63.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Asana

A number of large investors have recently bought and sold shares of the stock. Motley Fool Asset Management LLC purchased a new position in Asana during the first quarter worth approximately $217,000. Bayesian Capital Management LP purchased a new position in Asana during the first quarter worth approximately $546,000. Price T Rowe Associates Inc. MD raised its stake in Asana by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 53,368 shares of the company’s stock worth $827,000 after purchasing an additional 3,033 shares during the period. Bessemer Group Inc. raised its stake in shares of Asana by 27.9% in the 1st quarter. Bessemer Group Inc. now owns 53,345 shares of the company’s stock valued at $827,000 after acquiring an additional 11,640 shares during the period. Finally, Champlain Investment Partners LLC raised its stake in shares of Asana by 26.9% in the 1st quarter. Champlain Investment Partners LLC now owns 4,032,035 shares of the company’s stock valued at $62,456,000 after acquiring an additional 854,355 shares during the period. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Stock Performance

Shares of ASAN stock opened at $13.11 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $14.20 and a 200 day moving average price of $16.60. The company has a market cap of $2.99 billion, a P/E ratio of -11.21 and a beta of 1.15. Asana has a 12 month low of $11.29 and a 12 month high of $24.81.

Asana (NYSE:ASANGet Free Report) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. Asana had a negative net margin of 38.55% and a negative return on equity of 77.48%. The firm had revenue of $172.45 million during the quarter, compared to analysts’ expectations of $168.53 million. Sell-side analysts predict that Asana will post -1.04 earnings per share for the current fiscal year.

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; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.

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Analyst Recommendations for Asana (NYSE:ASAN)

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