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

Shares of Asana, Inc. (NYSE:ASAN) have earned a consensus recommendation of “Hold” from the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $12.4643.

ASAN has been the topic of a number of research reports. Morgan Stanley dropped their price objective on shares of Asana from $14.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, March 3rd. Piper Sandler decreased their price target on shares of Asana from $14.00 to $9.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. Citigroup dropped their price target on shares of Asana from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Royal Bank Of Canada cut their price objective on shares of Asana from $11.00 to $7.00 and set an “underperform” rating for the company in a research report on Tuesday, March 3rd. Finally, DA Davidson decreased their target price on Asana from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, December 3rd.

Asana Stock Performance

Shares of ASAN stock traded up $0.05 on Friday, reaching $6.90. The stock had a trading volume of 372,505 shares, compared to its average volume of 5,414,227. The stock has a market cap of $1.63 billion, a P/E ratio of -8.64 and a beta of 1.01. Asana has a 1 year low of $6.51 and a 1 year high of $19.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.40 and a current ratio of 1.40. The company has a 50 day simple moving average of $9.42 and a 200 day simple moving average of $12.28.

Asana (NYSE:ASAN) last posted its earnings results on Monday, March 2nd. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $205.57 million for the quarter, compared to the consensus estimate of $205.13 million. Asana had a negative return on equity of 71.50% and a negative net margin of 23.90%.The business’s quarterly revenue was up 9.2% on a year-over-year basis. Equities research analysts expect that Asana will post -1.09 EPS for the current year.

Insider Transactions at Asana

In other news, insider Katie Marie Colendich sold 7,304 shares of Asana stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.42, for a total transaction of $54,195.68. Following the transaction, the insider directly owned 108,214 shares of the company’s stock, valued at $802,947.88. The trade was a 6.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Anne Raimondi sold 76,093 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $14.47, for a total value of $1,101,065.71. Following the transaction, the chief operating officer owned 764,178 shares of the company’s stock, valued at approximately $11,057,655.66. This trade represents a 9.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 276,304 shares of company stock valued at $3,901,258 over the last quarter. 61.28% of the stock is currently owned by company insiders.

Institutional Trading of Asana

A number of hedge funds and other institutional investors have recently modified their holdings of ASAN. FNY Investment Advisers LLC purchased a new stake in Asana in the 3rd quarter worth $27,000. Jones Financial Companies Lllp grew its position in shares of Asana by 137.7% during the third quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock valued at $34,000 after purchasing an additional 1,427 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Asana by 119.7% in the third quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company’s stock worth $34,000 after purchasing an additional 1,391 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Asana in the fourth quarter worth about $50,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of Asana by 64.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock worth $59,000 after buying an additional 1,706 shares in the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

About Asana

Asana, Inc (NYSE: ASAN) is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana’s platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company’s cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.