Asana, Inc. (NYSE:ASAN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Asana, Inc. (NYSE:ASAN) have received a consensus rating of “Hold” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $17.67.

Several equities analysts have recently commented on ASAN shares. UBS Group cut their price target on Asana from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. KeyCorp lowered their price target on shares of Asana from $14.00 to $13.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. Citigroup cut their price objective on shares of Asana from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Piper Sandler lowered their target price on Asana from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $27.00 price target on shares of Asana in a report on Monday, July 15th.

Insider Transactions at Asana

In related news, COO Anne Raimondi sold 26,588 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $11.44, for a total value of $304,166.72. Following the completion of the transaction, the chief operating officer now directly owns 790,894 shares of the company’s stock, valued at approximately $9,047,827.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Anne Raimondi sold 26,588 shares of Asana stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $11.44, for a total transaction of $304,166.72. Following the completion of the sale, the chief operating officer now directly owns 790,894 shares in the company, valued at $9,047,827.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Tim M. Wan sold 28,856 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $11.44, for a total transaction of $330,112.64. Following the sale, the chief financial officer now directly owns 1,050,284 shares in the company, valued at $12,015,248.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,443 shares of company stock worth $1,026,976. Insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. acquired a new position in shares of Asana in the 2nd quarter valued at about $17,100,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Asana during the 2nd quarter valued at approximately $3,050,000. Scientech Research LLC acquired a new position in shares of Asana in the 2nd quarter valued at $146,000. The Manufacturers Life Insurance Company grew its position in Asana by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock valued at $687,000 after buying an additional 1,888 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Asana by 25.6% in the second quarter. AQR Capital Management LLC now owns 32,503 shares of the company’s stock worth $444,000 after acquiring an additional 6,634 shares during the period. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Price Performance

Asana stock opened at $14.06 on Monday. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -12.02 and a beta of 1.16. The firm has a 50-day moving average of $13.67 and a two-hundred day moving average of $14.80. Asana has a 1 year low of $11.29 and a 1 year high of $23.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.71 and a quick ratio of 1.71.

Asana (NYSE:ASAN) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.02. The company had revenue of $172.45 million for the quarter, compared to analysts’ expectations of $168.53 million. Asana had a negative return on equity of 77.48% and a negative net margin of 38.55%. On average, research analysts forecast that Asana will post -1.05 earnings per share for the current year.

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.