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

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

Several brokerages have recently weighed in on ASAN. JMP Securities increased their target price on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday, December 6th. Scotiabank raised their price objective on Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. Robert W. Baird upped their price target on Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Piper Sandler raised shares of Asana from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $27.00 in a report on Monday. Finally, KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 target price for the company in a research note on Friday, December 6th.

Insider Transactions at Asana

In other Asana news, COO Anne Raimondi sold 27,233 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was 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 owns 733,855 shares of the company’s stock, valued at $15,931,992.05. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

A number of hedge funds have recently made changes to their positions in ASAN. Headlands Technologies LLC increased its stake in Asana by 327.9% during the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after purchasing an additional 2,220 shares during the period. KBC Group NV increased its stake in Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after buying an additional 1,211 shares during the period. Quest Partners LLC acquired a new stake in Asana during the 3rd quarter worth approximately $43,000. Redwood Wealth Management Group LLC purchased a new position in Asana in the 2nd quarter valued at approximately $65,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of Asana by 26.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after acquiring an additional 1,028 shares in the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Stock Performance

NYSE ASAN opened at $20.39 on Friday. The stock has a market capitalization of $4.66 billion, a PE ratio of -18.21 and a beta of 1.10. The business has a 50 day simple moving average of $18.09 and a two-hundred day simple moving average of $14.72. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. Asana has a 1-year low of $11.05 and a 1-year high of $27.77.

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.