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

Asana, Inc. (NYSE:ASAN) has earned a consensus recommendation of “Reduce” from the eleven analysts that are covering the company, Marketbeat reports. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $20.67.

Several research analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of Asana from $16.00 to $18.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. KeyCorp began coverage on shares of Asana in a report on Thursday, March 21st. They issued an “underweight” rating and a $14.00 price target on the stock. Finally, Bank of America began coverage on shares of Asana in a report on Monday, February 26th. They set a “buy” rating and a $25.00 price objective for the company.

Insider Buying and Selling at Asana

In other Asana news, COO Anne Raimondi sold 11,779 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $15.38, for a total value of $181,161.02. Following the sale, the chief operating officer now owns 492,230 shares of the company’s stock, valued at approximately $7,570,497.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Tim M. Wan sold 10,105 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total transaction of $155,414.90. Following the completion of the transaction, the chief financial officer now owns 753,888 shares in the company, valued at $11,594,797.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Anne Raimondi sold 11,779 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $15.38, for a total transaction of $181,161.02. Following the transaction, the chief operating officer now directly owns 492,230 shares in the company, valued at $7,570,497.40. The disclosure for this sale can be found here. Insiders sold 51,733 shares of company stock valued at $788,886 in the last quarter. Company insiders own 63.26% of the company’s stock.

Hedge Funds Weigh In On Asana

A number of institutional investors have recently bought and sold shares of ASAN. Principal Financial Group Inc. purchased a new stake in Asana during the 1st quarter valued at about $173,000. Diversified Trust Co lifted its stake in shares of Asana by 59.0% in the first quarter. Diversified Trust Co now owns 34,085 shares of the company’s stock worth $528,000 after buying an additional 12,650 shares in the last quarter. Strategic Planning Group LLC lifted its stake in shares of Asana by 36.5% in the first quarter. Strategic Planning Group LLC now owns 31,417 shares of the company’s stock worth $487,000 after buying an additional 8,407 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Asana by 15.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock valued at $33,891,000 after buying an additional 235,135 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Asana during the fourth quarter valued at approximately $881,000. 26.21% of the stock is owned by institutional investors.

Asana Stock Performance

Asana stock opened at $15.36 on Tuesday. Asana has a 1-year low of $13.34 and a 1-year high of $26.27. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.45 billion, a PE ratio of -13.13 and a beta of 1.23. The firm’s 50 day simple moving average is $16.17 and its 200 day simple moving average is $18.16.

Asana (NYSE:ASAN) last issued its quarterly earnings data on Monday, March 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. Asana had a negative return on equity of 75.22% and a negative net margin of 39.39%. The company had revenue of $171.14 million for the quarter, compared to the consensus estimate of $167.59 million. As a group, analysts expect that Asana will post -1.08 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.