Asana, Inc. (NYSE:ASAN) Receives Consensus Rating of "Hold" from Brokerages

Shares of Asana, Inc. (NYSE:ASAN - Get Free Report) have earned a consensus rating of "Hold" from the sixteen research firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $15.97.

ASAN has been the topic of a number of recent research reports. Bank of America cut their price target on Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, June 4th. Robert W. Baird boosted their price objective on shares of Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Wall Street Zen raised shares of Asana from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Jefferies Financial Group boosted their price objective on shares of Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a research note on Wednesday, June 4th. Finally, Morgan Stanley cut their price objective on Asana from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 4th.

Insiders Place Their Bets

In other news, CEO Dustin A. Moskovitz purchased 225,000 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average price of $14.72 per share, with a total value of $3,312,000.00. Following the transaction, the chief executive officer now directly owns 50,372,943 shares of the company's stock, valued at approximately $741,489,720.96. This represents a 0.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Anne Raimondi sold 27,016 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $13.17, for a total value of $355,800.72. Following the transaction, the chief operating officer now directly owns 889,936 shares in the company, valued at $11,720,457.12. This represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 1,037,755 shares of company stock valued at $15,123,955. Insiders own 61.28% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC raised its stake in shares of Asana by 8.1% during the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after purchasing an additional 937,726 shares during the period. Vanguard Group Inc. raised its stake in shares of Asana by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock valued at $155,261,000 after purchasing an additional 475,100 shares during the period. Voloridge Investment Management LLC raised its stake in shares of Asana by 25.6% during the 4th quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock valued at $43,574,000 after purchasing an additional 438,057 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Asana during the 4th quarter valued at $38,966,000. Finally, First Trust Advisors LP raised its stake in shares of Asana by 17.6% during the 4th quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock valued at $35,350,000 after purchasing an additional 261,298 shares during the period. Hedge funds and other institutional investors own 26.21% of the company's stock.

Asana Trading Down 0.3%

Shares of Asana stock opened at $13.28 on Friday. Asana has a 12-month low of $11.05 and a 12-month high of $27.77. The stock has a market cap of $3.13 billion, a P/E ratio of -13.28 and a beta of 1.23. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.16. The business's 50 day moving average is $15.86 and its 200-day moving average is $17.88.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%. The firm had revenue of $187.63 million for the quarter, compared to analyst estimates of $185.40 million. During the same period in the prior year, the firm posted ($0.06) EPS. The company's revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts predict that Asana will post -1.09 earnings per share 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.

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