Brokerages Set Asana, Inc. (NYSE:ASAN) Target Price at $20.67

Asana, Inc. (NYSE:ASAN) has earned a consensus rating of “Reduce” from the eleven brokerages that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $20.67.

A number of equities analysts have weighed in on ASAN shares. KeyCorp started coverage on Asana in a research report on Thursday, March 21st. They issued an “underweight” rating and a $14.00 target price for the company. Bank of America began coverage on Asana in a research note on Monday, February 26th. They set a “buy” rating and a $25.00 price target for the company.

Insider Activity at Asana

In related news, CFO Tim M. Wan sold 10,105 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total transaction of $155,414.90. Following the sale, the chief financial officer now owns 753,888 shares in the company, valued at approximately $11,594,797.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Asana news, CFO Tim M. Wan sold 10,000 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $15.00, for a total value of $150,000.00. Following the sale, the chief financial officer now owns 753,888 shares in the company, valued at $11,308,320. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Tim M. Wan sold 10,105 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total value of $155,414.90. Following the completion of the sale, the chief financial officer now owns 753,888 shares in the company, valued at approximately $11,594,797.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,733 shares of company stock worth $788,886. Company insiders own 63.26% of the company’s stock.

Hedge Funds Weigh In On Asana

A number of hedge funds and other institutional investors have recently made changes to their positions in ASAN. DekaBank Deutsche Girozentrale bought a new stake in Asana during the third quarter valued at about $27,000. Allspring Global Investments Holdings LLC raised its stake in Asana by 1,015.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,520 shares of the company’s stock valued at $46,000 after buying an additional 2,294 shares during the last quarter. CWM LLC raised its stake in Asana by 25.5% in the third quarter. CWM LLC now owns 2,772 shares of the company’s stock valued at $51,000 after buying an additional 563 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in Asana by 26.2% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock valued at $61,000 after buying an additional 669 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Asana in the fourth quarter valued at about $147,000. Institutional investors own 26.21% of the company’s stock.

Asana Trading Up 1.9 %

ASAN stock opened at $15.63 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.80 and a current ratio of 1.80. Asana has a one year low of $13.34 and a one year high of $26.27. The company has a market capitalization of $3.51 billion, a PE ratio of -13.36 and a beta of 1.21. The company’s 50 day moving average price is $16.05 and its two-hundred day moving average price is $18.12.

Asana (NYSE:ASAN) last issued its earnings results on Monday, March 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.06. The firm had revenue of $171.14 million for the quarter, compared to analysts’ expectations of $167.59 million. Asana had a negative net margin of 39.39% and a negative return on equity of 75.22%. As a group, analysts predict that Asana will post -1.08 earnings per share for the current fiscal year.

Asana Company Profile

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.