Brokerages Set Asana, Inc. (NYSE:ASAN) Price Target at $17.73

Asana, Inc. (NYSE:ASAN) has received an average rating of “Hold” from the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research 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 1 year price target among brokerages that have issued ratings on the stock in the last year is $17.73.

ASAN has been the topic of a number of analyst reports. Royal Bank of Canada restated an “underperform” rating and issued a $10.00 price target on shares of Asana in a research note on Friday, December 6th. Scotiabank boosted their target price on shares of Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their price target on shares of Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Robert W. Baird raised their price objective on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Citigroup boosted their price objective on shares of Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th.

Asana Price Performance

Shares of ASAN opened at $19.23 on Monday. The firm has a market capitalization of $4.40 billion, a PE ratio of -17.17 and a beta of 1.11. The stock’s 50 day moving average is $20.98 and its two-hundred day moving average is $16.62. Asana has a twelve month low of $11.05 and a twelve month high of $27.77. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17.

Insider Buying and Selling at Asana

In related news, COO Anne Raimondi sold 27,233 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.71, for a total value of $591,228.43. Following the completion of the transaction, the chief operating officer now owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. The trade was a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justin Rosenstein sold 196,067 shares of the firm’s stock in a transaction dated 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 directly owns 1,651,242 shares in the company, valued at $35,964,050.76. This represents a 10.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 723,300 shares of company stock worth $15,161,068. 63.97% of the stock is owned by insiders.

Institutional Trading of Asana

Several hedge funds and other institutional investors have recently bought and sold shares of ASAN. Voya Investment Management LLC lifted its stake in shares of Asana by 8.1% during the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after purchasing an additional 937,726 shares during the period. Voloridge Investment Management LLC lifted its position in Asana by 25.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock worth $43,574,000 after buying an additional 438,057 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Asana in the 4th quarter worth about $38,966,000. Geode Capital Management LLC grew its holdings in Asana by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock valued at $21,605,000 after buying an additional 12,055 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Asana by 17.6% during the 4th quarter. First Trust Advisors LP now owns 1,743,981 shares of the company’s stock valued at $35,350,000 after acquiring an additional 261,298 shares during the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

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.