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

Asana, Inc. (NYSE:ASAN) has been given a consensus rating of “Hold” by the fourteen ratings firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $14.21.

ASAN has been the topic of several research reports. UBS Group dropped their target price on Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report 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. JPMorgan Chase & Co. lowered their price objective on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday, September 4th. Morgan Stanley lowered their price target on Asana from $19.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 20th. Finally, DA Davidson boosted their price target on Asana from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd.

Asana Trading Down 2.5 %

Shares of NYSE:ASAN opened at $13.90 on Friday. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -12.09 and a beta of 1.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.63. The stock’s 50-day simple moving average is $12.28 and its two-hundred day simple moving average is $13.30. Asana has a 52-week low of $11.05 and a 52-week high of $23.44.

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

Insiders Place Their Bets

In other news, 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 transaction, the chief operating officer now owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. The trade was a 3.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eleanor B. Lacey sold 4,977 shares of the business’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 value of $58,678.83. Following the transaction, the insider now directly owns 370,333 shares in the company, valued at approximately $4,366,226.07. This represents a 1.33 % decrease in their position. 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 in the last quarter. 63.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Asana

Several large investors have recently modified their holdings of ASAN. Barclays PLC grew its position in Asana by 103.0% in the 3rd quarter. Barclays PLC now owns 165,753 shares of the company’s stock valued at $1,920,000 after acquiring an additional 84,114 shares during the last quarter. XTX Topco Ltd bought a new position in Asana in the 3rd quarter valued at $538,000. Quadrature Capital Ltd bought a new position in Asana in the 3rd quarter valued at $189,000. Holocene Advisors LP grew its position in Asana by 62.2% in the 3rd quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock valued at $3,537,000 after acquiring an additional 116,998 shares during the last quarter. Finally, Centiva Capital LP grew its position in Asana by 88.7% in the 3rd quarter. Centiva Capital LP now owns 63,989 shares of the company’s stock valued at $742,000 after acquiring an additional 30,084 shares during the last quarter. 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.