Asana, Inc. (NYSE:ASAN) Receives $12.32 Consensus Target Price from Brokerages

Shares of Asana, Inc. (NYSE:ASAN) have been assigned a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $12.3214.

Several research firms have commented on ASAN. Royal Bank Of Canada raised shares of Asana from an “underperform” rating to a “sector perform” rating and set a $7.00 price objective on the stock in a report on Wednesday, April 1st. HSBC set a $8.00 price objective on shares of Asana in a report on Friday, February 13th. Morgan Stanley dropped their price objective on shares of Asana from $14.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, March 3rd. Citigroup dropped their price objective on shares of Asana from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Finally, Robert W. Baird dropped their price objective on shares of Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd.

Insider Buying and Selling at Asana

In other Asana news, CAO Veronica Sosa sold 6,479 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $6.65, for a total transaction of $43,085.35. Following the sale, the chief accounting officer directly owned 73,722 shares of the company’s stock, valued at $490,251.30. This represents a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sonalee Elizabeth Parekh sold 18,717 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $6.62, for a total transaction of $123,906.54. Following the sale, the chief financial officer directly owned 915,281 shares in the company, valued at approximately $6,059,160.22. This trade represents a 2.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 70,226 shares of company stock valued at $472,065 over the last three months. 61.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Asana

A number of institutional investors and hedge funds have recently modified their holdings of ASAN. Jupiter Asset Management Ltd. lifted its holdings in shares of Asana by 705.6% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock worth $18,850,000 after buying an additional 1,204,232 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Asana by 53.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock worth $38,277,000 after buying an additional 977,107 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Asana by 35.1% in the fourth quarter. Marshall Wace LLP now owns 2,653,145 shares of the company’s stock worth $36,375,000 after buying an additional 689,546 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Asana by 12.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,214,591 shares of the company’s stock worth $71,492,000 after buying an additional 565,681 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Asana by 94.7% in the fourth quarter. Federated Hermes Inc. now owns 804,743 shares of the company’s stock worth $11,033,000 after buying an additional 391,412 shares in the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

Asana Stock Performance

Shares of NYSE:ASAN opened at $6.97 on Friday. The company’s 50-day moving average is $6.58 and its 200 day moving average is $10.39. The company has a market capitalization of $1.66 billion, a P/E ratio of -8.71 and a beta of 0.96. Asana has a fifty-two week low of $5.38 and a fifty-two week high of $19.00.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Monday, March 2nd. The company reported $0.08 earnings per share 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 the consensus estimate 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% compared to the same quarter last year. As a group, research analysts predict that Asana will post -0.53 earnings per share for the current year.

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.