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

Shares of Asana, Inc. (NYSE:ASAN) have been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $14.27.

A number of research firms have issued reports on ASAN. Morgan Stanley lowered their price target on Asana from $19.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 20th. UBS Group decreased their target price on Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. decreased their target price on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research report on Wednesday, September 4th. Robert W. Baird decreased their target price on Asana from $20.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Finally, DA Davidson upped their target price on Asana from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd.

Asana Price Performance

ASAN stock opened at $13.81 on Friday. The stock has a 50-day moving average price of $12.32 and a two-hundred day moving average price of $13.26. Asana has a 12-month low of $11.05 and a 12-month high of $23.44. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The company has a market cap of $3.15 billion, a PE ratio of -12.01 and a beta of 1.13.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. Asana had a negative return on equity of 81.88% and a negative net margin of 37.73%. The firm had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.68 million. During the same quarter in the previous year, the business earned ($0.31) earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, research analysts predict that Asana will post -1.14 EPS for the current year.

Insider Transactions at Asana

In related news, COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $357,385.93. Following the completion of the sale, the chief operating officer now owns 761,088 shares in the company, valued at $9,125,445.12. This represents a 3.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eleanor B. Lacey sold 4,977 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $58,678.83. Following the completion of the sale, the insider now owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,092 shares of company stock valued at $527,668 in the last three months. 63.97% of the stock is owned by corporate insiders.

Institutional Trading of Asana

A number of large investors have recently made changes to their positions in ASAN. Vanguard Group Inc. increased its holdings in Asana by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock worth $144,462,000 after purchasing an additional 490,823 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in Asana by 26.9% during the 1st quarter. Champlain Investment Partners LLC now owns 4,032,035 shares of the company’s stock worth $62,456,000 after purchasing an additional 854,355 shares in the last quarter. Geode Capital Management LLC increased its holdings in Asana by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock worth $21,605,000 after purchasing an additional 12,055 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Asana during the 2nd quarter worth about $17,100,000. Finally, Cubist Systematic Strategies LLC bought a new position in Asana during the 2nd quarter worth about $5,169,000. Institutional investors own 26.21% of the company’s stock.

Asana Company Profile

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.