Asana, Inc. (NYSE:ASAN – Get Free Report) has been assigned an average recommendation of “Hold” from the sixteen research firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, four have issued 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 $15.97.
A number of research firms have recently issued reports on ASAN. Piper Sandler upped their price objective on Asana from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. Royal Bank Of Canada reiterated an “underperform” rating and issued a $10.00 price objective on shares of Asana in a report on Wednesday, June 4th. Jefferies Financial Group upped their price objective on Asana from $15.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, June 4th. Morgan Stanley cut their price objective on Asana from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, June 4th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Asana in a report on Wednesday, June 4th.
View Our Latest Report on Asana
Asana Price Performance
Asana (NYSE:ASAN – Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%. The firm had revenue of $187.63 million during the quarter, compared to analysts’ expectations of $185.40 million. During the same period in the prior year, the business earned ($0.06) EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities analysts anticipate that Asana will post -1.09 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CFO Sonalee Elizabeth Parekh sold 4,230 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $13.17, for a total value of $55,709.10. Following the completion of the transaction, the chief financial officer now owns 1,336,927 shares of the company’s stock, valued at approximately $17,607,328.59. This represents a 0.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dustin A. Moskovitz bought 225,000 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average cost of $14.72 per share, with a total value of $3,312,000.00. Following the transaction, the chief executive officer now directly owns 50,372,943 shares in the company, valued at approximately $741,489,720.96. This represents a 0.45% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 1,037,755 shares of company stock worth $15,123,955. 61.28% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in ASAN. Banque Cantonale Vaudoise purchased a new position in Asana during the first quarter valued at $28,000. Quarry LP purchased a new position in Asana during the fourth quarter valued at $29,000. AlphaQuest LLC raised its stake in Asana by 825.1% during the first quarter. AlphaQuest LLC now owns 2,470 shares of the company’s stock valued at $36,000 after buying an additional 2,203 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Asana during the fourth quarter valued at $82,000. Finally, State of Tennessee Department of Treasury purchased a new position in Asana during the fourth quarter valued at $135,000. Institutional investors own 26.21% of the company’s stock.
About Asana
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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