Analysts Set Asana, Inc. (NYSE:ASAN) PT at $12.46

Shares of Asana, Inc. (NYSE:ASAN) have earned a consensus rating of “Hold” from the seventeen research firms that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $12.4643.

A number of equities analysts have issued reports on ASAN shares. Royal Bank Of Canada raised shares of Asana from an “underperform” rating to a “sector perform” rating and set a $7.00 target price on the stock in a report on Wednesday. KeyCorp dropped their price target on Asana from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. Citigroup cut their price target on Asana from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Wall Street Zen upgraded Asana from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Finally, Morgan Stanley lowered their price objective on Asana from $14.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, March 3rd.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ASAN. FNY Investment Advisers LLC acquired a new stake in shares of Asana in the third quarter valued at approximately $27,000. Jones Financial Companies Lllp boosted its position in shares of 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 buying an additional 1,427 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Asana by 119.7% during the third quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company’s stock worth $34,000 after buying an additional 1,391 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Asana in the 4th quarter worth approximately $50,000. Finally, Daiwa Securities Group Inc. grew its holdings in Asana by 64.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock worth $59,000 after buying an additional 1,706 shares in the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Stock Performance

Shares of NYSE:ASAN opened at $6.40 on Tuesday. The company’s fifty day moving average is $7.65 and its two-hundred day moving average is $11.43. Asana has a 1-year low of $5.87 and a 1-year high of $19.00. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -7.99 and a beta of 1.08.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Monday, March 2nd. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. Asana had a negative net margin of 23.90% and a negative return on equity of 77.05%. The business had revenue of $205.57 million during the quarter, compared to analyst estimates of $205.13 million. Asana’s revenue for the quarter was up 9.2% compared to the same quarter last year. Sell-side analysts expect that Asana will post -1.09 EPS for the current fiscal year.

About Asana

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.