Asana, Inc. (NYSE:ASAN) Receives Consensus Rating of “Hold” from Analysts

Asana, Inc. (NYSE:ASAN) has been assigned an average rating of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $17.73.

A number of research analysts recently weighed in on ASAN shares. Royal Bank of Canada reissued an “underperform” rating and issued a $10.00 price objective on shares of Asana in a research note on Friday, December 6th. Oppenheimer raised their price objective on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Jefferies Financial Group raised their price objective on Asana from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 6th. KeyCorp raised Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective on the stock in a research note on Friday, December 6th. Finally, Robert W. Baird raised their price objective on Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 6th.

Asana Stock Down 5.2 %

ASAN opened at $20.80 on Monday. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The business has a 50-day moving average of $21.47 and a 200-day moving average of $16.43. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market capitalization of $4.76 billion, a PE ratio of -18.57 and a beta of 1.11.

Insider Buying and Selling at Asana

In other news, Director Justin Rosenstein sold 196,067 shares of Asana stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $21.78, for a total transaction of $4,270,339.26. Following the sale, the director now owns 1,651,242 shares of the company’s stock, valued at approximately $35,964,050.76. This trade represents a 10.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.71, for a total value of $591,228.43. Following the sale, the chief operating officer now directly owns 733,855 shares in the company, valued at $15,931,992.05. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 573,300 shares of company stock valued at $12,197,068 in the last 90 days. 63.97% of the stock is currently owned by insiders.

Institutional Trading of Asana

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after buying an additional 427,576 shares during the period. XTX Topco Ltd bought a new position in shares of Asana during the 3rd quarter worth approximately $538,000. Neo Ivy Capital Management lifted its position in shares of Asana by 195.1% during the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock worth $1,964,000 after buying an additional 112,038 shares during the period. Friedenthal Financial bought a new position in shares of Asana during the 4th quarter worth approximately $762,000. Finally, Intech Investment Management LLC bought a new position in shares of Asana during the 3rd quarter worth approximately $456,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

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.