Asana, Inc. (NYSE:ASAN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Asana, Inc. (NYSE:ASAN) have been assigned a consensus rating of “Hold” from the fourteen research firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $14.67.

Several research analysts have recently weighed in on ASAN shares. JMP Securities lowered their price objective on Asana from $27.00 to $21.00 and set a “market outperform” rating for the company in a research report on Wednesday. Oppenheimer decreased their target price on Asana from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday. Piper Sandler decreased their target price on Asana from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday. DA Davidson reaffirmed a “neutral” rating and issued a $11.00 target price (down from $14.00) on shares of Asana in a research report on Wednesday. Finally, Bank of America decreased their target price on Asana from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday.

Asana Trading Down 6.4 %

Shares of ASAN stock opened at $11.78 on Monday. The stock’s fifty day moving average price is $13.64 and its two-hundred day moving average price is $14.65. The company has a market cap of $2.69 billion, a PE ratio of -10.07 and a beta of 1.16. Asana has a fifty-two week low of $11.29 and a fifty-two week high of $23.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.71 and a current ratio of 1.71.

Asana (NYSE:ASAN) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $179.21 million for the quarter, compared to the consensus estimate of $177.68 million. Asana had a negative return on equity of 77.48% and a negative net margin of 38.55%. Asana’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.31) EPS. Equities analysts predict that Asana will post -1.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Tim M. Wan sold 5,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $15.00, for a total value of $75,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,063,909 shares of the company’s stock, valued at $15,958,635. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Asana news, CFO Tim M. Wan sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $15.00, for a total transaction of $75,000.00. Following the completion of the transaction, the chief financial officer now owns 1,063,909 shares of the company’s stock, valued at $15,958,635. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Tim M. Wan sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. 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 1,050,284 shares of the company’s stock, valued at approximately $15,754,260. The disclosure for this sale can be found here. Insiders sold a total of 84,443 shares of company stock valued at $1,026,976 over the last three months. Corporate insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

Institutional investors and hedge funds have recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. increased its holdings in Asana by 26.2% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock valued at $61,000 after acquiring an additional 669 shares during the last quarter. Arizona State Retirement System increased its holdings in Asana by 3.6% in the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock valued at $327,000 after acquiring an additional 803 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in Asana by 4.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,319 shares of the company’s stock valued at $386,000 after acquiring an additional 828 shares during the last quarter. Diversified Trust Co increased its holdings in Asana by 2.6% in the 2nd quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock valued at $489,000 after acquiring an additional 900 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in Asana by 26.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after acquiring an additional 1,028 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors.

Asana Company Profile

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.