Asana, Inc. (NYSE:ASAN) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Consensus "Hold": Seventeen analysts cover Asana with a consensus rating of "Hold" (5 sell, 6 hold, 5 buy, 1 strong buy) and an average 12‑month target of $12.46.
• Several brokerages recently cut price targets — Citigroup to $13, KeyCorp to $15, Piper Sandler to $9 and Robert W. Baird to $9 — reflecting mixed sentiment despite some ratings remaining positive.
• Insiders have sold 70,226 shares in the past 90 days (insiders still own 61.28%); ASAN trades near $6.21 with a $1.48B market cap and reported a slight EPS beat but retains negative net margin (‑23.9%) and negative ROE (‑77.05%).

Asana, Inc. (NYSE:ASAN - Get Free Report) has earned a consensus recommendation of "Hold" from the seventeen research firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $12.4643.

Several brokerages have issued reports on ASAN. Citigroup dropped their target price on Asana from $16.00 to $13.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. KeyCorp reduced their price target on Asana from $18.00 to $15.00 and set an "overweight" rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Asana in a research note on Monday, December 29th. Piper Sandler cut their price objective on Asana from $14.00 to $9.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 3rd. Finally, Robert W. Baird reduced their target price on Asana from $16.00 to $9.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 3rd.

Insider Transactions at Asana

In other Asana news, insider Katie Marie Colendich sold 7,304 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $7.42, for a total value of $54,195.68. Following the completion of the sale, the insider directly owned 108,214 shares of the company's stock, valued at $802,947.88. The trade was a 6.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Veronica Sosa sold 6,479 shares of the company's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $6.65, for a total transaction of $43,085.35. Following the completion of the transaction, the chief accounting officer owned 73,722 shares in the company, valued at $490,251.30. This represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 70,226 shares of company stock worth $472,065. Insiders own 61.28% of the company's stock.

Institutional Trading of Asana

Large investors have recently modified their holdings of the company. Federated Hermes Inc. lifted its holdings in shares of Asana by 1,162.2% in the 3rd quarter. Federated Hermes Inc. now owns 413,331 shares of the company's stock worth $5,522,000 after buying an additional 380,583 shares during the period. Marex Group plc purchased a new position in shares of Asana during the second quarter valued at $4,772,000. Hussman Strategic Advisors Inc. increased its stake in shares of Asana by 42.9% during the third quarter. Hussman Strategic Advisors Inc. now owns 210,000 shares of the company's stock valued at $2,806,000 after buying an additional 63,000 shares during the period. Edgestream Partners L.P. raised its holdings in shares of Asana by 847.3% in the second quarter. Edgestream Partners L.P. now owns 173,908 shares of the company's stock valued at $2,348,000 after acquiring an additional 155,550 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Asana by 104.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,160,975 shares of the company's stock valued at $56,173,000 after acquiring an additional 2,126,683 shares in the last quarter. Hedge funds and other institutional investors own 26.21% of the company's stock.

Asana Stock Up 0.6%

ASAN stock opened at $6.21 on Tuesday. Asana has a twelve month low of $5.87 and a twelve month high of $19.00. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -7.76 and a beta of 1.01. The firm's fifty day simple moving average is $8.01 and its two-hundred day simple moving average is $11.61.

Asana (NYSE:ASAN - Get Free Report) last released its earnings results on Monday, March 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $205.57 million during the quarter, compared to analyst estimates of $205.13 million. Asana had a negative net margin of 23.90% and a negative return on equity of 77.05%. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities research analysts expect that Asana will post -1.09 EPS for the current year.

Asana Company Profile

Asana, Inc NYSE: ASAN is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana's platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company's cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.

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