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

by · The Markets Daily

Asana, Inc. (NYSE:ASAN – Get Free Report) has earned an average rating of “Hold” from the fourteen analysts that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $14.07.

Several research firms have recently weighed in on ASAN. Oppenheimer reduced their price objective on shares of Asana from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. JMP Securities reduced their target price on shares of Asana from $27.00 to $21.00 and set a “market outperform” rating for the company in a report on Wednesday, September 4th. Citigroup dropped their price target on Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. UBS Group reduced their price objective on Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Finally, DA Davidson restated a “neutral” rating and issued a $11.00 target price (down from $14.00) on shares of Asana in a report on Wednesday, September 4th.

View Our Latest Stock Report on Asana

Insider Buying and Selling

In other Asana news, insider Eleanor B. Lacey sold 4,977 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.79, for a total value of $58,678.83. Following the transaction, the insider now owns 370,333 shares in the company, valued at $4,366,226.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Anne Raimondi sold 29,807 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the transaction, the chief operating officer now owns 761,088 shares in the company, valued at approximately $9,125,445.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eleanor B. Lacey sold 4,977 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $58,678.83. Following the transaction, the insider now owns 370,333 shares in the company, valued at approximately $4,366,226.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,092 shares of company stock worth $752,668. Corporate insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

Hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC increased its holdings in shares of Asana by 327.9% during the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after acquiring an additional 2,220 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its position in Asana by 26.2% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock worth $61,000 after purchasing an additional 669 shares during the period. Redwood Wealth Management Group LLC bought a new stake in Asana during the second quarter worth approximately $65,000. Daiwa Securities Group Inc. grew its holdings in Asana by 26.0% during the second 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 during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Asana by 139.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,673 shares of the company’s stock valued at $93,000 after purchasing an additional 3,885 shares during the period. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Price Performance

Shares of NYSE:ASAN opened at $11.18 on Friday. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of -9.56 and a beta of 1.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. Asana has a 12 month low of $11.05 and a 12 month high of $23.44. The stock’s 50 day moving average price is $12.81 and its 200 day moving average price is $13.79.

Asana (NYSE:ASAN – Get Free Report) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $179.21 million for the quarter, compared to the consensus estimate of $177.68 million. During the same quarter in the previous year, the business earned ($0.31) EPS. The company’s quarterly revenue 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 fiscal year.

Asana announced that its board has initiated a share repurchase program on Thursday, June 20th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Asana Company Profile

(Get Free Report

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.

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