Brokerages Set Asana, Inc. (NYSE:ASAN) PT at $17.73

Shares of Asana, Inc. (NYSE:ASAN) have been given a consensus recommendation of “Hold” by the fifteen brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.73.

ASAN has been the subject of several recent analyst reports. Royal Bank of Canada reiterated an “underperform” rating and set a $10.00 price objective on shares of Asana in a research note on Friday, December 6th. Robert W. Baird boosted their target price on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Citigroup upped their price objective on shares of Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Jefferies Financial Group increased their target price on shares of Asana from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Finally, JMP Securities upped their price objective on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, December 6th.

Asana Trading Down 0.6 %

Shares of ASAN opened at $21.22 on Thursday. Asana has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a 50-day moving average of $20.35 and a 200 day moving average of $15.55. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of -18.94 and a beta of 1.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Insider Buying and Selling

In other Asana news, COO Anne Raimondi sold 27,233 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.71, for a total value 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 $15,931,992.05. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Justin Rosenstein sold 150,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the completion of the sale, the director now directly owns 2,047,309 shares of the company’s stock, valued at $40,966,653.09. This trade represents a 6.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 377,233 shares of company stock worth $7,926,728 over the last ninety days. 63.97% of the stock is owned by insiders.

Institutional Trading of Asana

Several hedge funds have recently added to or reduced their stakes in ASAN. KBC Group NV raised its holdings in Asana by 52.1% in the 3rd 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 in the last quarter. Quest Partners LLC acquired a new stake in Asana during the 3rd quarter valued at $43,000. Bogart Wealth LLC bought a new position in Asana in the 4th quarter valued at $61,000. MQS Management LLC bought a new position in shares of Asana in the 3rd quarter worth $141,000. Finally, Paloma Partners Management Co bought a new position in shares of Asana in the 3rd quarter worth $143,000. Institutional investors own 26.21% of the company’s stock.

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.