Asana, Inc. (NYSE:ASAN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Asana, Inc. (NYSE:ASAN) have received an average rating of “Hold” from the seventeen ratings firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $12.3214.

A number of research firms recently weighed in on ASAN. UBS Group decreased their price objective on Asana from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Asana in a report on Friday, May 8th. Wall Street Zen downgraded Asana from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 19th. HSBC set a $8.00 price objective on Asana in a report on Friday, February 13th. Finally, Citigroup decreased their price objective on Asana from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd.

Asana Price Performance

NYSE ASAN opened at $6.57 on Wednesday. The business has a fifty day moving average price of $6.32 and a two-hundred day moving average price of $9.48. Asana has a fifty-two week low of $5.38 and a fifty-two week high of $19.00. The stock has a market capitalization of $1.56 billion, a PE ratio of -8.21 and a beta of 0.95.

Asana (NYSE:ASAN) last announced its quarterly earnings results on Monday, March 2nd. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Asana had a negative return on equity of 77.05% and a negative net margin of 23.90%.The company had revenue of $205.57 million during the quarter, compared to analysts’ expectations of $205.13 million. The firm’s revenue was up 9.2% compared to the same quarter last year. As a group, sell-side analysts expect that Asana will post -0.53 earnings per share for the current year.

Insider Transactions at Asana

In other news, CFO Sonalee Elizabeth Parekh sold 34,151 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $6.65, for a total value of $227,104.15. Following the transaction, the chief financial officer owned 933,998 shares in the company, valued at approximately $6,211,086.70. The trade was a 3.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katie Marie Colendich sold 7,304 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $7.42, for a total transaction of $54,195.68. Following the completion of the transaction, the insider owned 108,214 shares in the company, valued at $802,947.88. This trade represents a 6.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 70,226 shares of company stock worth $472,065. Company insiders own 61.28% of the company’s stock.

Institutional Investors Weigh In On Asana

Several large investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in shares of Asana during the 3rd quarter worth approximately $27,000. Jones Financial Companies Lllp boosted its stake in Asana by 137.7% during the third quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock worth $34,000 after acquiring an additional 1,427 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Asana in the fourth quarter worth $50,000. Daiwa Securities Group Inc. grew its holdings in Asana by 64.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock worth $59,000 after purchasing an additional 1,706 shares during the period. Finally, Performa Ltd US LLC increased its stake in Asana by 335.1% in the first quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock valued at $40,000 after purchasing an additional 4,775 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Company Profile

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.