Asana, Inc. (NYSE:ASAN) Receives $14.07 Average PT from Brokerages

Asana, Inc. (NYSE:ASAN) has been given a consensus rating of “Hold” by the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Three investment 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 target price among analysts that have covered the stock in the last year is $14.21.

A number of brokerages have recently weighed in on ASAN. JMP Securities cut their target price on shares of Asana from $27.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Wednesday, September 4th. UBS Group cut their price objective on Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. 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, September 4th. Morgan Stanley dropped their price target on Asana from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 20th. Finally, DA Davidson upped their price target on Asana from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday.

Asana Stock Down 0.8 %

Shares of NYSE:ASAN opened at $11.85 on Tuesday. Asana has a 1 year low of $11.05 and a 1 year high of $23.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. The stock’s 50-day moving average is $12.34 and its 200 day moving average is $13.40. The company has a market cap of $2.70 billion, a PE ratio of -10.13 and a beta of 1.14.

Asana (NYSE:ASAN) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. Asana had a negative return on equity of 81.88% and a negative net margin of 37.73%. The firm had revenue of $179.21 million for the quarter, compared to analysts’ expectations of $177.68 million. During the same period in the previous year, the firm earned ($0.31) earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. Sell-side analysts anticipate that Asana will post -1.14 EPS for the current year.

Insider Transactions at Asana

In related news, insider Eleanor B. Lacey sold 4,977 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $58,678.83. Following the completion of the sale, the insider now owns 370,333 shares of the company’s stock, valued at $4,366,226.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Eleanor B. Lacey sold 4,977 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $58,678.83. Following the sale, the insider now directly owns 370,333 shares of the company’s stock, valued at $4,366,226.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Anne Raimondi sold 29,807 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $357,385.93. Following the completion of the transaction, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,092 shares of company stock worth $527,668. Corporate insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC raised its stake in Asana by 327.9% during the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after buying an additional 2,220 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new stake in Asana during the second quarter valued at $65,000. Daiwa Securities Group Inc. increased its position in Asana by 26.0% during the second 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. Benjamin F. Edwards & Company Inc. boosted its position in Asana by 139.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,673 shares of the company’s stock worth $93,000 after purchasing an additional 3,885 shares during the last quarter. Finally, Scientech Research LLC purchased a new position in Asana in the second quarter worth about $146,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.