Analysts Set Asana, Inc. (NYSE:ASAN) Target Price at $15.67

Shares of Asana, Inc. (NYSE:ASAN) have earned an average rating of “Hold” from the fifteen research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $15.67.

A number of brokerages have commented on ASAN. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective for the company in a research report on Friday, December 6th. Robert W. Baird decreased their price target on shares of Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Jefferies Financial Group dropped their price objective on shares of Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, March 11th. UBS Group decreased their target price on shares of Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Finally, Bank of America dropped their price target on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th.

Insiders Place Their Bets

In other Asana news, COO Anne Raimondi sold 18,775 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.03, for a total transaction of $263,413.25. Following the completion of the sale, the chief operating officer now directly owns 716,580 shares in the company, valued at $10,053,617.40. This represents a 2.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justin Rosenstein sold 150,000 shares of Asana stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total value of $3,001,500.00. Following the completion of the transaction, the director now owns 2,047,309 shares in the company, valued at $40,966,653.09. The trade was a 6.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 675,000 shares of company stock valued at $9,285,750 and sold 739,842 shares valued at $15,155,503. Company insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASAN. Vise Technologies Inc. boosted its position in shares of Asana by 6.5% in the fourth quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock valued at $320,000 after acquiring an additional 959 shares during the period. KBC Group NV raised its stake in Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after purchasing an additional 1,211 shares during the last quarter. Quarry LP acquired a new position in Asana during the 4th quarter valued at $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Asana by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,218 shares of the company’s stock valued at $937,000 after purchasing an additional 2,538 shares during the period. Finally, MetLife Investment Management LLC grew its position in Asana by 5.7% in the 4th quarter. MetLife Investment Management LLC now owns 49,483 shares of the company’s stock worth $1,003,000 after purchasing an additional 2,668 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Stock Performance

Shares of Asana stock opened at $15.38 on Friday. Asana has a 12 month low of $11.05 and a 12 month high of $27.77. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The stock has a market cap of $3.52 billion, a PE ratio of -13.73 and a beta of 1.13. The business has a fifty day simple moving average of $19.25 and a 200-day simple moving average of $16.91.

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.