Brokerages Set Asana, Inc. (NYSE:ASAN) PT at $14.21

Shares of Asana, Inc. (NYSE:ASAN) have earned a consensus rating of “Hold” from the fifteen analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $14.27.

A number of research firms have recently commented on ASAN. Citigroup reduced their price objective on shares of Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Robert W. Baird cut their target price on shares of Asana from $20.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. UBS Group cut their target price on shares of Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. DA Davidson raised their target price on shares of Asana from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, KeyCorp cut their target price on shares of Asana from $12.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, September 4th.

Asana Trading Down 0.6 %

Asana stock opened at $13.81 on Friday. The firm has a 50-day moving average of $12.32 and a 200-day moving average of $13.26. Asana has a one year low of $11.05 and a one year high of $23.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market cap of $3.15 billion, a price-to-earnings ratio of -12.01 and a beta of 1.13.

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

Insiders Place Their Bets

In related news, insider Eleanor B. Lacey sold 4,977 shares of Asana 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 of the company’s stock, valued at $4,366,226.07. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the completion of the transaction, the chief operating officer now directly owns 761,088 shares in the company, valued at $9,125,445.12. This trade represents a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,092 shares of company stock worth $527,668 over the last three months. Insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ASAN. Headlands Technologies LLC grew its stake in shares of Asana by 327.9% during the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after buying an additional 2,220 shares during the last quarter. KBC Group NV grew its stake in shares of Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after buying an additional 1,211 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Asana during the third quarter worth $43,000. Redwood Wealth Management Group LLC bought a new stake in shares of Asana during the second quarter worth $65,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of Asana by 26.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after buying an additional 1,028 shares during the last quarter. 26.21% of the stock is owned by institutional investors.

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.