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

Asana, Inc. (NYSE:ASAN) has received a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $16.53.

ASAN has been the subject of a number of recent analyst reports. Piper Sandler lifted their price target on shares of Asana from $12.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Jefferies Financial Group boosted their target price on Asana from $13.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their price target on Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Scotiabank raised their price target on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Finally, Morgan Stanley upped their price objective on Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th.

Asana Stock Up 1.3 %

NYSE ASAN opened at $24.15 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana has a 52 week low of $11.05 and a 52 week high of $26.10. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of -21.56 and a beta of 1.22. The company has a fifty day moving average of $14.65 and a two-hundred day moving average of $13.62.

Insider Buying and Selling

In related news, COO Anne Raimondi sold 29,807 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $357,385.93. Following the completion of the transaction, the chief operating officer now owns 761,088 shares of the company’s stock, valued at $9,125,445.12. The trade was a 3.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eleanor B. Lacey sold 4,977 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total value of $58,678.83. Following the sale, the insider now owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,092 shares of company stock valued at $527,668 over the last three months. 63.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Asana

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC lifted its position in shares of Asana by 327.9% during the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after buying an additional 2,220 shares during the last quarter. KBC Group NV lifted its position in Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after acquiring an additional 1,211 shares during the last quarter. Quest Partners LLC purchased a new stake in Asana during the third quarter valued at approximately $43,000. Redwood Wealth Management Group LLC acquired a new stake in Asana in the second quarter valued at approximately $65,000. Finally, Daiwa Securities Group Inc. grew its holdings in 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 purchasing an additional 1,028 shares during the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.