Asana, Inc. (NYSE:ASAN) Given Consensus Recommendation of “Hold” by Analysts

Asana, Inc. (NYSE:ASAN) has received an average recommendation of “Hold” from the twelve analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $18.75.

A number of brokerages have recently weighed in on ASAN. UBS Group reduced their price target on shares of Asana from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. KeyCorp cut their target price on Asana from $14.00 to $13.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. Oppenheimer decreased their price target on Asana from $28.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. HSBC raised Asana from a “reduce” rating to a “hold” rating and dropped their price objective for the stock from $16.00 to $14.00 in a research note on Monday, June 3rd. Finally, Piper Sandler raised Asana from an “underweight” rating to a “neutral” rating and decreased their target price for the company from $18.00 to $16.00 in a research note on Friday, May 31st.

Insider Buying and Selling at Asana

In other news, CFO Tim M. Wan sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $15.00, for a total transaction of $150,000.00. Following the sale, the chief financial officer now owns 753,888 shares in the company, valued at $11,308,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Asana news, insider Eleanor B. Lacey sold 4,462 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $15.47, for a total transaction of $69,027.14. Following the completion of the sale, the insider now directly owns 220,739 shares in the company, valued at approximately $3,414,832.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Tim M. Wan sold 10,000 shares of Asana stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the transaction, the chief financial officer now directly owns 753,888 shares in the company, valued at approximately $11,308,320. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,462 shares of company stock valued at $369,027. 63.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Asana

Several institutional investors have recently made changes to their positions in ASAN. DekaBank Deutsche Girozentrale acquired a new stake in shares of Asana during the 3rd quarter valued at $27,000. Edmond DE Rothschild Holding S.A. boosted its position in Asana by 26.2% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock valued at $61,000 after purchasing an additional 669 shares during the last quarter. Headlands Technologies LLC purchased a new position in Asana in the fourth quarter valued at about $147,000. Janney Montgomery Scott LLC acquired a new position in Asana in the 3rd quarter worth about $184,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Asana during the 4th quarter worth about $197,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Asana Stock Performance

Shares of ASAN stock opened at $11.87 on Wednesday. The business has a 50 day simple moving average of $14.35 and a 200 day simple moving average of $16.79. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -10.15 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.71 and a quick ratio of 1.71. Asana has a 12-month low of $11.73 and a 12-month high of $25.33.

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.