Asana, Inc. (NYSE:ASAN) Given Consensus Recommendation of “Hold” by Analysts

Asana, Inc. (NYSE:ASAN) has been given a consensus recommendation of “Hold” by the twelve brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $18.75.

A number of research analysts recently commented on ASAN shares. UBS Group cut their target price on Asana from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. KeyCorp dropped their price objective on shares of Asana from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. HSBC upgraded shares of Asana from a “reduce” rating to a “hold” rating and decreased their target price for the company from $16.00 to $14.00 in a research report on Monday, June 3rd. Oppenheimer cut their price target on shares of Asana from $28.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Finally, Jefferies Financial Group cut their price objective on Asana from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, May 31st.

Insider Buying and Selling at Asana

In other news, insider Eleanor B. Lacey sold 4,462 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $15.47, for a total transaction of $69,027.14. Following the completion of the transaction, the insider now directly owns 220,739 shares in the company, valued at approximately $3,414,832.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Eleanor B. Lacey sold 4,462 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $15.47, for a total transaction of $69,027.14. Following the sale, the insider now owns 220,739 shares of the company’s stock, valued at approximately $3,414,832.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tim M. Wan sold 10,000 shares of Asana stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the transaction, the chief financial officer now owns 753,888 shares in the company, valued at approximately $11,308,320. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,905 shares of company stock valued at $1,171,004. 63.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Asana

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Asana by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock valued at $144,462,000 after purchasing an additional 490,823 shares during the period. Champlain Investment Partners LLC raised its position in Asana by 26.9% in the 1st 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 during the last quarter. Goldman Sachs Group Inc. lifted its stake in Asana by 15.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock valued at $33,891,000 after acquiring an additional 235,135 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in Asana during the 4th quarter worth approximately $25,246,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Asana by 6.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 696,277 shares of the company’s stock worth $13,236,000 after acquiring an additional 43,564 shares in the last quarter. 26.21% of the stock is owned by institutional investors.

Asana Price Performance

Shares of Asana stock opened at $12.66 on Wednesday. The firm has a fifty day moving average price of $14.15 and a two-hundred day moving average price of $16.49. The company has a market cap of $2.89 billion, a PE ratio of -10.82 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.71 and a quick ratio of 1.71. Asana has a fifty-two week low of $11.29 and a fifty-two week high of $24.81.

Asana (NYSE:ASAN) last released its earnings results on Thursday, May 30th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.02. Asana had a negative net margin of 38.55% and a negative return on equity of 77.48%. The business had revenue of $172.45 million during the quarter, compared to analysts’ expectations of $168.53 million. Analysts expect that Asana will post -1.04 EPS for the current year.

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.