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

Asana, Inc. (NYSE:ASAN) has received an average recommendation of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $22.31.

Several brokerages recently issued reports on ASAN. Oppenheimer reiterated an “outperform” rating and issued a $28.00 target price on shares of Asana in a research report on Wednesday, September 6th. Royal Bank of Canada reissued an “underperform” rating and set a $10.00 price objective on shares of Asana in a report on Wednesday, September 6th. Citigroup reaffirmed a “neutral” rating and issued a $24.00 target price (down previously from $26.00) on shares of Asana in a research report on Thursday, September 7th. Morgan Stanley cut their target price on shares of Asana from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 6th. Finally, JMP Securities restated a “market outperform” rating and set a $30.00 price objective on shares of Asana in a research report on Wednesday, September 6th.

Insider Buying and Selling at Asana

In other news, CEO Dustin A. Moskovitz acquired 40,000 shares of the firm’s stock in a transaction on Tuesday, June 20th. The shares were purchased at an average cost of $24.97 per share, for a total transaction of $998,800.00. Following the transaction, the chief executive officer now owns 39,392,803 shares of the company’s stock, valued at $983,638,290.91. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Asana news, CEO Dustin A. Moskovitz acquired 40,000 shares of Asana stock in a transaction on Tuesday, June 20th. The shares were purchased at an average cost of $24.97 per share, with a total value of $998,800.00. Following the completion of the purchase, the chief executive officer now owns 39,392,803 shares in the company, valued at $983,638,290.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lorrie M. Norrington sold 6,200 shares of the company’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $25.01, for a total value of $155,062.00. Following the completion of the sale, the director now owns 107,736 shares of the company’s stock, valued at approximately $2,694,477.36. The disclosure for this sale can be found here. In the last quarter, insiders acquired 2,142,347 shares of company stock worth $45,052,535 and sold 39,959 shares worth $930,488. Corporate insiders own 63.26% of the company’s stock.

Institutional Investors Weigh In On Asana

A number of large investors have recently bought and sold shares of ASAN. US Bancorp DE raised its stake in Asana by 118.7% during the first quarter. US Bancorp DE now owns 1,216 shares of the company’s stock worth $26,000 after buying an additional 660 shares during the last quarter. FMR LLC grew its position in Asana by 120.4% in the 2nd quarter. FMR LLC now owns 1,578 shares of the company’s stock worth $28,000 after purchasing an additional 862 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Asana during the 1st quarter worth $33,000. Harvest Fund Management Co. Ltd purchased a new position in Asana in the 1st quarter worth approximately $33,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Asana by 765.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,829 shares of the company’s stock valued at $39,000 after purchasing an additional 2,502 shares during the period. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Asana Stock Performance

Shares of ASAN opened at $18.25 on Monday. Asana has a one year low of $11.32 and a one year high of $27.14. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.89 and a quick ratio of 1.89. The company’s fifty day moving average price is $21.55 and its 200 day moving average price is $20.64. The company has a market capitalization of $3.96 billion, a PE ratio of -11.85 and a beta of 1.24.

Asana (NYSE:ASAN) last posted its earnings results on Tuesday, September 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.07. The business had revenue of $162.46 million for the quarter, compared to analyst estimates of $157.91 million. Asana had a negative return on equity of 87.79% and a negative net margin of 54.21%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.59) EPS. As a group, analysts expect that Asana will post -1.34 earnings per share 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; and manages product launches, marketing campaigns, and organization-wide goal settings.