Asana, Inc. (NYSE:ASAN) Receives $15.67 Average Price Target from Analysts

Asana, Inc. (NYSE:ASAN) has received a consensus rating of “Hold” from the fifteen brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $15.60.

ASAN has been the topic of several analyst reports. Scotiabank dropped their price target on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Tuesday, March 11th. Bank of America lowered their target price on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Robert W. Baird reduced their price target on Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Jefferies Financial Group lowered their price objective on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, March 11th. Finally, UBS Group cut their price objective on Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th.

Asana Price Performance

Shares of ASAN opened at $14.84 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market cap of $3.46 billion, a PE ratio of -13.25 and a beta of 1.23. The firm’s 50 day moving average price is $17.00 and its 200 day moving average price is $17.22. Asana has a twelve month low of $11.05 and a twelve month high of $27.77.

Insider Transactions at Asana

In other news, CEO Dustin A. Moskovitz purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were purchased at an average cost of $15.84 per share, for a total transaction of $792,000.00. Following the completion of the purchase, the chief executive officer now directly owns 51,398,436 shares of the company’s stock, valued at approximately $814,151,226.24. The trade was a 0.10 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were 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 directly owns 2,047,309 shares of the company’s stock, valued at approximately $40,966,653.09. This trade represents a 6.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders acquired 2,074,507 shares of company stock worth $30,025,743 and sold 739,842 shares worth $15,155,503. Corporate insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

Institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new position in Asana in the first quarter worth $223,000. SG Americas Securities LLC raised its stake in shares of Asana by 3.1% in the 1st quarter. SG Americas Securities LLC now owns 32,460 shares of the company’s stock valued at $473,000 after buying an additional 974 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Asana by 23.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 18,079 shares of the company’s stock worth $263,000 after acquiring an additional 3,383 shares during the period. 180 Wealth Advisors LLC acquired a new stake in shares of Asana during the 1st quarter valued at about $146,000. Finally, Rhumbline Advisers boosted its position in shares of Asana by 3.1% during the 1st quarter. Rhumbline Advisers now owns 125,556 shares of the company’s stock valued at $1,829,000 after acquiring an additional 3,739 shares in the last quarter. Institutional investors and hedge funds 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.