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

Asana, Inc. (NYSE:ASAN) has been given a consensus rating of “Hold” by the fifteen research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $16.53.

ASAN has been the topic of several recent research reports. Scotiabank raised their price target on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, December 6th. JMP Securities raised their target price on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, December 6th. DA Davidson upped their price target on shares of Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Royal Bank of Canada reissued an “underperform” rating and set a $10.00 price target on shares of Asana in a research report on Friday, December 6th. Finally, Jefferies Financial Group upped their price objective on shares of Asana from $13.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, December 6th.

Insider Activity

In related news, COO Anne Raimondi sold 27,233 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at approximately $15,931,992.05. The trade was a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

Several large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position in shares of Asana by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock valued at $327,000 after purchasing an additional 803 shares during the period. Daiwa Securities Group Inc. increased its stake in Asana by 26.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after buying an additional 1,028 shares in the last quarter. KBC Group NV raised its holdings 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 period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Asana by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock valued at $238,000 after acquiring an additional 1,769 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Asana by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock worth $687,000 after acquiring an additional 1,888 shares during the period. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Stock Up 3.8 %

Shares of NYSE:ASAN opened at $20.61 on Friday. The stock has a market capitalization of $4.71 billion, a P/E ratio of -18.40 and a beta of 1.22. The stock’s 50-day moving average price is $17.72 and its 200-day moving average price is $14.58. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana has a 12-month low of $11.05 and a 12-month 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.