Analysts Set Asana, Inc. (NYSE:ASAN) Target Price at $16.53

Shares of Asana, Inc. (NYSE:ASAN) have been assigned a consensus rating of “Hold” from the fifteen research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $17.27.

Several equities research analysts have recently weighed in on the company. Oppenheimer upped their target price on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on shares of Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 target price on the stock in a research report on Friday, December 6th. JMP Securities raised their target price on Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday, December 6th. Finally, Piper Sandler raised Asana from a “neutral” rating to an “overweight” rating and upped their target price for the company from $19.00 to $27.00 in a research report on Monday.

Insider Buying and Selling at Asana

In related news, COO Anne Raimondi sold 27,233 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $21.71, for a total transaction of $591,228.43. Following the completion of the sale, the chief operating officer now directly owns 733,855 shares in the company, valued at approximately $15,931,992.05. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 63.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Asana

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Asana by 11.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock worth $238,000 after purchasing an additional 1,769 shares during the period. Rhumbline Advisers increased its stake in Asana by 2.2% in the 2nd quarter. Rhumbline Advisers now owns 115,958 shares of the company’s stock worth $1,622,000 after purchasing an additional 2,464 shares in the last quarter. Arizona State Retirement System raised its holdings in Asana by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock worth $327,000 after buying an additional 803 shares during the period. Daiwa Securities Group Inc. lifted its stake in Asana by 26.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after buying an additional 1,028 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in shares of Asana by 327.9% in the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after buying an additional 2,220 shares during the period. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Stock Performance

NYSE:ASAN opened at $19.56 on Friday. Asana has a twelve month low of $11.05 and a twelve month high of $27.77. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of -17.46 and a beta of 1.10. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The firm’s fifty day simple moving average is $18.38 and its 200 day simple moving average is $14.79.

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.