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

Shares of Asana, Inc. (NYSE:ASAN) have earned an average recommendation of “Hold” from the seventeen ratings firms that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $12.4643.

Several research firms have recently commented on ASAN. Morgan Stanley reduced their target price on shares of Asana from $14.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, March 3rd. UBS Group dropped their price target on shares of Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Wall Street Zen raised shares of Asana from a “hold” rating to a “buy” rating in a report on Sunday, January 11th. Robert W. Baird lowered their price objective on Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Finally, BTIG Research assumed coverage on Asana in a research report on Tuesday, December 16th. They set a “neutral” rating on the stock.

Asana Trading Down 7.2%

NYSE:ASAN opened at $7.34 on Friday. Asana has a 12-month low of $6.51 and a 12-month high of $19.00. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.19. The stock’s 50 day simple moving average is $9.69 and its 200-day simple moving average is $12.36. The firm has a market cap of $1.74 billion, a P/E ratio of -9.17 and a beta of 1.01.

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 the consensus estimate of $0.07 by $0.01. Asana had a negative return on equity of 71.50% and a negative net margin of 23.90%.The firm had revenue of $205.57 million during the quarter, compared to the consensus estimate of $205.13 million. Asana’s quarterly revenue was up 9.2% on a year-over-year basis. Equities analysts anticipate that Asana will post -1.09 EPS for the current year.

Insider Buying and Selling

In related news, COO Anne Raimondi sold 62,165 shares of Asana stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $14.31, for a total value of $889,581.15. Following the sale, the chief operating officer directly owned 702,013 shares in the company, valued at $10,045,806.03. The trade was a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sonalee Elizabeth Parekh sold 24,888 shares of the company’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $13.54, for a total value of $336,983.52. Following the transaction, the chief financial officer directly owned 968,149 shares in the company, valued at $13,108,737.46. This represents a 2.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 269,000 shares of company stock worth $3,847,063. Company insiders own 61.28% of the company’s stock.

Hedge Funds Weigh In On Asana

A number of large investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its stake in shares of Asana by 104.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,160,975 shares of the company’s stock valued at $56,173,000 after purchasing an additional 2,126,683 shares during the period. Jupiter Asset Management Ltd. increased its holdings in Asana by 705.6% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock valued at $18,850,000 after buying an additional 1,204,232 shares in the last quarter. Marshall Wace LLP increased its holdings in Asana by 594.9% in the second quarter. Marshall Wace LLP now owns 1,285,583 shares of the company’s stock valued at $17,355,000 after buying an additional 1,100,575 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Asana by 53.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock valued at $38,277,000 after acquiring an additional 977,107 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of Asana by 73.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,020,660 shares of the company’s stock valued at $27,256,000 after acquiring an additional 856,282 shares during the period. Hedge funds and other institutional investors 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.