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

Shares of Asana, Inc. (NYSE:ASAN) have been assigned an average recommendation of “Hold” from the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Two research 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 twelve-month target price among brokerages that have issued ratings on the stock in the last year is $15.67.

ASAN has been the subject of several research reports. Robert W. Baird dropped their price target on shares of Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target on the stock in a report on Friday, December 6th. Oppenheimer upped their price target on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Bank of America lowered their price objective on Asana from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $10.00 target price on shares of Asana in a research note on Friday, December 6th.

Asana Trading Up 3.1 %

Shares of ASAN stock opened at $14.44 on Friday. The stock has a market capitalization of $3.30 billion, a P/E ratio of -12.89 and a beta of 1.13. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. 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 company has a 50 day moving average price of $19.39 and a 200 day moving average price of $16.86.

Insider Buying and Selling at Asana

In other news, Director Justin Rosenstein sold 200,000 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $21.67, for a total value of $4,334,000.00. Following the completion of the sale, the director now directly owns 1,847,309 shares of the company’s stock, valued at approximately $40,031,186.03. The trade was a 9.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $12.91 per share, for a total transaction of $2,904,750.00. Following the purchase, the chief executive officer now directly owns 48,123,436 shares in the company, valued at $621,273,558.76. The trade was a 0.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 675,000 shares of company stock worth $9,285,750 and sold 721,067 shares worth $14,892,089. 63.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Asana

Institutional investors have recently modified their holdings of the business. Quarry LP acquired a new stake in Asana during the 4th quarter worth $29,000. KBC Group NV raised its holdings in shares of Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after buying an additional 1,211 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Asana during the third quarter worth about $43,000. Bogart Wealth LLC purchased a new position in shares of Asana during the fourth quarter worth about $61,000. Finally, SBI Securities Co. Ltd. acquired a new position in Asana in the 4th quarter valued at about $82,000. 26.21% of the stock is owned by institutional investors and hedge funds.

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.