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

Asana, Inc. (NYSE:ASAN) has been given a consensus recommendation of “Hold” by the fifteen analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $14.27.

ASAN has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “underperform” rating and issued a $10.00 target price on shares of Asana in a research note on Wednesday, October 23rd. Piper Sandler reduced their price target on shares of Asana from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Robert W. Baird lowered their price objective on shares of Asana from $20.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. JMP Securities dropped their target price on shares of Asana from $27.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Wednesday, September 4th. Finally, UBS Group decreased their price target on shares of Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th.

Asana Price Performance

ASAN stock opened at $15.74 on Friday. The stock has a market cap of $3.59 billion, a PE ratio of -13.68 and a beta of 1.13. Asana has a 12 month low of $11.05 and a 12 month high of $23.44. The company has a 50-day moving average price of $12.55 and a 200 day moving average price of $13.26. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14.

Asana (NYSE:ASAN) last announced its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $179.21 million during the quarter, compared to analyst estimates of $177.68 million. During the same quarter in the previous year, the business earned ($0.31) earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that Asana will post -1.14 earnings per share for the current year.

Insider Buying and Selling at Asana

In other Asana news, insider Eleanor B. Lacey sold 9,308 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $111,602.92. Following the completion of the sale, the insider now directly owns 375,310 shares in the company, valued at $4,499,966.90. This trade represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $357,385.93. Following the transaction, the chief operating officer now directly owns 761,088 shares in the company, valued at approximately $9,125,445.12. The trade was a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,092 shares of company stock worth $527,668 over the last quarter. Insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC grew its stake in shares of Asana by 327.9% during the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after acquiring an additional 2,220 shares during the last quarter. KBC Group NV boosted its stake in Asana by 52.1% in the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after purchasing an additional 1,211 shares in the last quarter. Quest Partners LLC purchased a new stake in Asana during the 3rd quarter worth approximately $43,000. Redwood Wealth Management Group LLC purchased a new stake in Asana during the 2nd quarter worth approximately $65,000. Finally, Daiwa Securities Group Inc. increased its stake in Asana by 26.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after purchasing an additional 1,028 shares in the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

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.