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

Shares of Asana, Inc. (NYSE:ASAN) have been assigned a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $14.21.

Several equities analysts have weighed in on the stock. Citigroup lowered their price target on shares of Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. JMP Securities lowered 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 target on Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Piper Sandler lowered their price objective on Asana from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, Bank of America dropped their price objective on Asana from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th.

Asana Trading Down 0.8 %

NYSE:ASAN opened at $11.85 on Tuesday. Asana has a one year low of $11.05 and a one year high of $23.44. The business has a fifty day moving average price of $12.34 and a 200-day moving average price of $13.40. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -10.13 and a beta of 1.14. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $179.21 million during the quarter, compared to analysts’ expectations of $177.68 million. During the same quarter in the prior year, the business posted ($0.31) earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. Sell-side analysts forecast that Asana will post -1.14 EPS for the current year.

Insider Activity at Asana

In other Asana news, insider Eleanor B. Lacey sold 9,308 shares of Asana stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $111,602.92. Following the completion of the transaction, the insider now directly owns 375,310 shares of the company’s stock, valued at $4,499,966.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Eleanor B. Lacey sold 9,308 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $111,602.92. Following the completion of the transaction, the insider now owns 375,310 shares of the company’s stock, valued at approximately $4,499,966.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eleanor B. Lacey sold 4,977 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total value of $58,678.83. Following the sale, the insider now directly owns 370,333 shares in the company, valued at $4,366,226.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,092 shares of company stock valued at $527,668 over the last 90 days. 63.97% of the stock is owned by corporate insiders.

Institutional Trading of Asana

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC bought a new position in Asana during the second quarter valued at $3,050,000. Point72 Asset Management L.P. purchased a new position in shares of Asana during the 2nd quarter worth about $17,100,000. Marshall Wace LLP bought a new position in Asana during the 2nd quarter valued at about $3,159,000. Bessemer Group Inc. raised its position in Asana by 27.9% in the 1st quarter. Bessemer Group Inc. now owns 53,345 shares of the company’s stock worth $827,000 after purchasing an additional 11,640 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in Asana in the first quarter worth about $173,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.