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

Shares of Asana, Inc. (NYSE:ASAN) have been assigned a consensus recommendation of “Hold” from the fifteen ratings firms that are covering the stock, Marketbeat.com reports. Two investment 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 1-year target price among analysts that have issued a report on the stock in the last year is $15.67.

A number of equities analysts have weighed in on ASAN shares. Scotiabank cut their target price on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a research report on Tuesday, March 11th. DA Davidson cut their price objective on shares of Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. UBS Group reduced their price objective on shares of Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Robert W. Baird dropped their target price on Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Finally, Jefferies Financial Group decreased their price objective on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, March 11th.

Insiders Place Their Bets

In other Asana news, Director Justin Rosenstein sold 196,067 shares of Asana 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 completion of the sale, the director now owns 1,651,242 shares of the company’s stock, valued at $35,964,050.76. The trade was a 10.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of Asana stock in a transaction dated Thursday, April 10th. The shares were purchased at an average price of $15.64 per share, for a total transaction of $3,519,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,272,943 shares in the company, valued at approximately $801,908,828.52. The trade was a 0.44 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 2,024,507 shares of company stock valued at $29,233,743 and sold 739,842 shares valued at $15,155,503. Corporate insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

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

Asana Stock Down 0.2 %

Shares of NYSE ASAN opened at $15.52 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market capitalization of $3.62 billion, a PE ratio of -13.86 and a beta of 1.23. Asana has a one year low of $11.05 and a one year high of $27.77. The business’s fifty day moving average price is $17.43 and its 200-day moving average price is $17.22.

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.