Asana, Inc. (NYSE:ASAN) Receives $14.21 Consensus Target Price from Brokerages

Asana, Inc. (NYSE:ASAN) has received a consensus rating of “Hold” from the fifteen analysts that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $14.27.

Several research firms recently commented on ASAN. Piper Sandler cut their price target on Asana from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Robert W. Baird decreased their price target on shares of Asana from $20.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. JMP Securities cut their price target on shares of Asana from $27.00 to $21.00 and set a “market outperform” rating on the stock in a report on Wednesday, September 4th. UBS Group decreased their price objective on shares of Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Finally, Oppenheimer cut their target price on shares of Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th.

Insider Buying and Selling

In other news, insider Eleanor B. Lacey sold 9,308 shares of Asana stock in a transaction that occurred 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 transaction, the insider now owns 375,310 shares of the company’s stock, valued at $4,499,966.90. The trade was a 2.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Anne Raimondi sold 29,807 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 761,088 shares in the company, valued at $9,125,445.12. The trade was a 3.77 % 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 three months. Company insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

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

Asana Stock Up 1.1 %

Shares of NYSE:ASAN opened at $13.94 on Friday. The company 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 50 day moving average of $12.42 and a two-hundred day moving average of $13.25. Asana has a 52-week low of $11.05 and a 52-week high of $23.44. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14.

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