Brokerages Set Asana, Inc. (NYSE:ASAN) Price Target at $12.46

Asana, Inc. (NYSE:ASAN) has earned a consensus recommendation of “Hold” from the seventeen research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $12.4643.

Several brokerages have recently issued reports on ASAN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Asana in a research note on Monday, December 29th. Wall Street Zen raised Asana from a “hold” rating to a “buy” rating in a research note on Sunday, January 11th. Morgan Stanley cut their price target on Asana from $14.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, March 3rd. Piper Sandler reduced their price target 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 decreased their price objective on Asana from $16.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd.

Asana Stock Up 1.0%

Shares of ASAN opened at $6.40 on Tuesday. Asana has a fifty-two week low of $5.87 and a fifty-two week high of $19.00. The firm’s 50 day moving average price is $7.74 and its 200 day moving average price is $11.49. The company has a market cap of $1.52 billion, a P/E ratio of -7.99 and a beta of 1.08.

Asana (NYSE:ASAN) last released its earnings results on Monday, March 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $205.57 million for 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 firm’s revenue for the quarter was up 9.2% on a year-over-year basis. Research analysts forecast that Asana will post -1.09 earnings per share for the current year.

Insider Activity at Asana

In related news, insider Katie Marie Colendich sold 7,304 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.42, for a total value of $54,195.68. Following the sale, the insider owned 108,214 shares of the company’s stock, valued at $802,947.88. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sonalee Elizabeth Parekh sold 18,717 shares of Asana stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $6.62, for a total transaction of $123,906.54. Following the completion of the transaction, the chief financial officer owned 915,281 shares of the company’s stock, valued at $6,059,160.22. This represents a 2.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 70,226 shares of company stock valued at $472,065 over the last 90 days. 61.28% of the stock is owned by corporate insiders.

Institutional Trading of Asana

Hedge funds and other institutional investors have recently bought and sold shares of the business. 180 Wealth Advisors LLC boosted its position in shares of Asana by 6.8% during the 4th quarter. 180 Wealth Advisors LLC now owns 12,489 shares of the company’s stock worth $171,000 after acquiring an additional 798 shares in the last quarter. Vident Advisory LLC raised its position in shares of Asana by 4.3% during the 3rd quarter. Vident Advisory LLC now owns 22,527 shares of the company’s stock worth $301,000 after acquiring an additional 930 shares in the last quarter. Blue Trust Inc. lifted its stake in Asana by 3.6% during the third quarter. Blue Trust Inc. now owns 27,606 shares of the company’s stock worth $369,000 after purchasing an additional 968 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Asana by 13.2% during the second quarter. Ameritas Investment Partners Inc. now owns 9,533 shares of the company’s stock worth $129,000 after purchasing an additional 1,115 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Asana by 7.8% in the fourth quarter. ProShare Advisors LLC now owns 16,412 shares of the company’s stock valued at $225,000 after purchasing an additional 1,188 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

About Asana

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.