Asana, Inc. (NYSE:ASAN) Receives $20.67 Consensus PT from Analysts

Shares of Asana, Inc. (NYSE:ASAN) have been given a consensus rating of “Reduce” by the eleven analysts that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $20.67.

A number of research analysts have commented on ASAN shares. KeyCorp initiated coverage on shares of Asana in a research note on Thursday, March 21st. They issued an “underweight” rating and a $14.00 price objective on the stock. Bank of America assumed coverage on Asana in a research note on Monday, February 26th. They set a “buy” rating and a $25.00 price objective for the company.

Insider Transactions at Asana

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

Institutional Investors Weigh In On Asana

Several hedge funds have recently made changes to their positions in the business. CWM LLC increased its stake in shares of Asana by 25.5% during the 3rd quarter. CWM LLC now owns 2,772 shares of the company’s stock valued at $51,000 after acquiring an additional 563 shares during the last quarter. SG Americas Securities LLC grew its position in Asana by 453.9% during the third quarter. SG Americas Securities LLC now owns 37,443 shares of the company’s stock valued at $686,000 after acquiring an additional 30,683 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Asana by 24.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 16,203 shares of the company’s stock valued at $297,000 after purchasing an additional 3,222 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Asana by 10.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 87,434 shares of the company’s stock valued at $1,601,000 after buying an additional 8,592 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Asana by 40.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,397 shares of the company’s stock worth $282,000 after acquiring an additional 4,460 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Stock Up 1.2 %

ASAN stock opened at $15.92 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13. Asana has a twelve month low of $13.34 and a twelve month high of $26.27. The stock has a market cap of $3.58 billion, a P/E ratio of -13.60 and a beta of 1.22. The company’s 50 day moving average is $15.96 and its two-hundred day moving average is $18.07.

Asana (NYSE:ASAN) last released its quarterly earnings results 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. The firm had revenue of $171.14 million for the quarter, compared to the consensus estimate of $167.59 million. Asana had a negative return on equity of 75.22% and a negative net margin of 39.39%. Research 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.