Asana, Inc. (NYSE:ASAN) Receives Average Recommendation of “Hold” from Brokerages

Asana, Inc. (NYSE:ASAN) has been given a consensus rating of “Hold” by the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $15.67.

Several research analysts have recently weighed in on the stock. Bank of America decreased their price objective on shares of Asana from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. dropped their price target on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 11th. JMP Securities set a $22.00 price objective on Asana in a research report on Tuesday, March 11th. Jefferies Financial Group dropped their target price on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, March 11th. Finally, Citigroup upped their price target on shares of Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th.

Insider Activity at Asana

In related news, Director Justin Rosenstein sold 196,067 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 1,651,242 shares of the company’s stock, valued at approximately $35,964,050.76. This represents a 10.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of Asana stock in a transaction on Monday, March 17th. The stock was purchased at an average cost of $14.02 per share, for a total transaction of $3,154,500.00. Following the purchase, the chief executive officer now owns 48,573,436 shares in the company, valued at approximately $680,999,572.72. 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 ninety days, insiders purchased 900,000 shares of company stock valued at $12,735,000 and sold 739,842 shares valued at $15,155,503. 63.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Asana

Several institutional investors have recently bought and sold shares of the business. KBC Group NV raised its position in shares of Asana by 52.1% during the 3rd 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 in the last quarter. Quest Partners LLC purchased a new stake in Asana during the third quarter valued at approximately $43,000. Intech Investment Management LLC bought a new stake in shares of Asana in the 3rd quarter valued at approximately $456,000. Quantbot Technologies LP boosted its holdings in shares of Asana by 157.7% in the 3rd quarter. Quantbot Technologies LP now owns 26,008 shares of the company’s stock worth $301,000 after purchasing an additional 15,917 shares during the period. Finally, FMR LLC increased its position in shares of Asana by 1,419.9% during the 3rd quarter. FMR LLC now owns 24,029 shares of the company’s stock valued at $278,000 after purchasing an additional 22,448 shares during the last quarter. Institutional investors own 26.21% of the company’s stock.

Asana Trading Down 2.7 %

Shares of NYSE:ASAN opened at $14.77 on Friday. 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. The company has a market cap of $3.38 billion, a P/E ratio of -13.18 and a beta of 1.13. The stock’s fifty day moving average price is $19.06 and its 200-day moving average price is $16.88.

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.