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

Shares of Asana, Inc. (NYSE:ASAN) have earned an average rating of “Hold” from the fifteen analysts that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $14.27.

Several analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Asana in a report on Wednesday, October 23rd. Citigroup dropped their target price on Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. JMP Securities reduced their price target on Asana from $27.00 to $21.00 and set a “market outperform” rating for the company in a report on Wednesday, September 4th. Oppenheimer dropped their price objective on Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Finally, Scotiabank started coverage on Asana in a report on Monday. They issued a “sector perform” rating and a $15.00 target price for the company.

Insiders Place Their Bets

In other news, COO Anne Raimondi sold 29,807 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the sale, the chief operating officer now owns 761,088 shares in the company, valued at $9,125,445.12. This trade represents a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eleanor B. Lacey sold 4,977 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $58,678.83. Following the transaction, the insider now directly owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,092 shares of company stock worth $527,668. Insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

Hedge funds have recently made changes to their positions in the stock. Swiss National Bank lifted its stake in shares of Asana by 2.3% in the 1st quarter. Swiss National Bank now owns 162,300 shares of the company’s stock valued at $2,514,000 after purchasing an additional 3,600 shares in the last quarter. ProShare Advisors LLC grew its stake in Asana by 12.1% during the first quarter. ProShare Advisors LLC now owns 15,838 shares of the company’s stock worth $245,000 after buying an additional 1,710 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Asana by 9.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 24,863 shares of the company’s stock worth $385,000 after acquiring an additional 2,170 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Asana by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock valued at $144,462,000 after acquiring an additional 490,823 shares during the period. Finally, Champlain Investment Partners LLC boosted its position in Asana by 26.9% during the 1st quarter. Champlain Investment Partners LLC now owns 4,032,035 shares of the company’s stock worth $62,456,000 after purchasing an additional 854,355 shares during the period. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Stock Up 1.1 %

Asana stock opened at $13.94 on Friday. The stock has a 50 day moving average of $12.42 and a two-hundred day moving average of $13.25. Asana has a twelve month low of $11.05 and a twelve month high of $23.44. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -12.12 and a beta of 1.13. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.68 million. Asana had a negative return on equity of 81.88% and a negative net margin of 37.73%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the company earned ($0.31) earnings per share. As a group, research analysts expect that Asana will post -1.14 earnings per share for the current year.

About Asana

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.