Asana, Inc. (NYSE:ASAN) Receives Average Recommendation of "Hold" from Brokerages

Shares of Asana, Inc. (NYSE:ASAN - Get Free Report) have received a consensus rating of "Hold" from the sixteen analysts that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $15.97.

Several research analysts have recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Asana from $15.00 to $17.00 and gave the company a "hold" rating in a research note on Wednesday, June 4th. HSBC reaffirmed a "reduce" rating and issued a $10.00 price target (down from $13.00) on shares of Asana in a report on Wednesday, June 4th. Morgan Stanley cut their price target on shares of Asana from $14.00 to $13.00 and set an "underweight" rating on the stock in a report on Wednesday, June 4th. Bank of America cut their price target on shares of Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, June 4th. Finally, Piper Sandler increased their target price on shares of Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th.

Insider Activity

In other Asana news, CEO Dustin A. Moskovitz acquired 225,000 shares of Asana stock in a transaction dated Tuesday, July 1st. The stock was bought at an average price of $13.58 per share, for a total transaction of $3,055,500.00. Following the transaction, the chief executive officer owned 51,711,191 shares in the company, valued at approximately $702,237,973.78. This trade represents a 0.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Justin Rosenstein sold 966,576 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total transaction of $14,537,303.04. Following the transaction, the director owned 4,797,091 shares of the company's stock, valued at approximately $72,148,248.64. This trade represents a 16.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 2,332,563 shares of company stock valued at $33,400,904 and have sold 2,175,665 shares valued at $32,670,537. Company insiders own 61.28% of the company's stock.

Hedge Funds Weigh In On Asana

Several large investors have recently made changes to their positions in the business. Vise Technologies Inc. lifted its stake in Asana by 6.5% during the fourth quarter. Vise Technologies Inc. now owns 15,809 shares of the company's stock valued at $320,000 after buying an additional 959 shares in the last quarter. SG Americas Securities LLC lifted its stake in Asana by 3.1% during the first quarter. SG Americas Securities LLC now owns 32,460 shares of the company's stock valued at $473,000 after buying an additional 974 shares in the last quarter. Catalyst Private Wealth LLC lifted its stake in Asana by 3.1% during the second quarter. Catalyst Private Wealth LLC now owns 42,984 shares of the company's stock valued at $580,000 after buying an additional 1,285 shares in the last quarter. Quarry LP purchased a new stake in Asana during the fourth quarter valued at about $29,000. Finally, Retirement Planning Co of New England Inc. lifted its stake in Asana by 12.7% during the first quarter. Retirement Planning Co of New England Inc. now owns 16,512 shares of the company's stock valued at $241,000 after buying an additional 1,855 shares in the last quarter. Institutional investors own 26.21% of the company's stock.

Asana Trading Down 0.3%

ASAN traded down $0.05 during trading on Thursday, hitting $14.90. 2,437,872 shares of the company's stock were exchanged, compared to its average volume of 3,249,753. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.16. Asana has a 1 year low of $11.05 and a 1 year high of $27.77. The stock has a 50 day moving average price of $14.98 and a 200 day moving average price of $16.81. The firm has a market cap of $3.51 billion, a P/E ratio of -14.90 and a beta of 1.13.

Asana (NYSE:ASAN - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. The business had revenue of $187.63 million during the quarter, compared to the consensus estimate of $185.40 million. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share. As a group, analysts expect that Asana will post -1.09 EPS for the current fiscal 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.