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

Asana, Inc. (NYSE:ASAN) has been assigned a consensus recommendation of “Hold” from the fourteen analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $9.2727.

Several brokerages have issued reports on ASAN. Morgan Stanley dropped their target price on shares of Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Friday, May 29th. Citigroup restated a “market outperform” rating on shares of Asana in a research report on Monday. Citizens Jmp restated a “market outperform” rating and issued a $15.00 target price on shares of Asana in a report on Tuesday, July 7th. Wall Street Zen cut Asana from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Finally, DA Davidson reissued a “neutral” rating and set a $8.00 price objective on shares of Asana in a research report on Friday, May 29th.

Asana Price Performance

ASAN opened at $10.18 on Friday. Asana has a one year low of $5.38 and a one year high of $15.71. The firm has a market capitalization of $2.35 billion, a P/E ratio of -14.76 and a beta of 0.93. The company has a fifty day moving average price of $8.06 and a 200-day moving average price of $7.28.

Asana (NYSE:ASAN) last posted its earnings results on Thursday, May 28th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.The business had revenue of $205.09 million during the quarter, compared to analysts’ expectations of $203.58 million. During the same period in the previous year, the business earned $0.05 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. On average, analysts expect that Asana will post -0.4 earnings per share for the current year.

Insider Activity at Asana

In related news, CFO Aziz Megji sold 31,696 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $6.66, for a total value of $211,095.36. Following the completion of the transaction, the chief financial officer directly owned 778,628 shares of the company’s stock, valued at $5,185,662.48. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katie Marie Colendich sold 8,337 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $6.74, for a total transaction of $56,191.38. Following the completion of the sale, the insider owned 181,840 shares of the company’s stock, valued at $1,225,601.60. This trade represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 118,304 shares of company stock valued at $792,775 in the last three months. Corporate insiders own 87.54% of the company’s stock.

Institutional Investors Weigh In On Asana

Several hedge funds have recently made changes to their positions in the company. Corient Private Wealth LP purchased a new stake in Asana in the second quarter worth $451,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Asana during the second quarter valued at $415,000. California State Teachers Retirement System lifted its position in Asana by 874.2% during the second quarter. California State Teachers Retirement System now owns 764,533 shares of the company’s stock valued at $5,352,000 after buying an additional 686,051 shares during the period. HB Wealth Management LLC purchased a new position in Asana during the second quarter valued at $71,000. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Asana by 41.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 32,900 shares of the company’s stock valued at $230,000 after buying an additional 9,700 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors.

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.