Brokerages Set Asana, Inc. (NYSE:ASAN) Target Price at $15.67

Shares of Asana, Inc. (NYSE:ASAN) have been given a consensus recommendation of “Hold” by the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $15.67.

ASAN has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Asana in a research report on Friday, December 6th. JPMorgan Chase & Co. dropped their price objective on shares of Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Tuesday, March 11th. DA Davidson reduced their target price on shares of Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. KeyCorp upgraded shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target on the stock in a research note on Friday, December 6th. Finally, Piper Sandler reduced their price objective on Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th.

Insider Activity

In related news, COO Anne Raimondi sold 18,775 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $14.03, for a total transaction of $263,413.25. Following the completion of the sale, the chief operating officer now directly owns 716,580 shares in the company, valued at approximately $10,053,617.40. This trade represents a 2.55 % 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, Director Justin Rosenstein sold 150,000 shares of Asana 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 transaction, the director now owns 2,047,309 shares in the company, valued at approximately $40,966,653.09. This trade represents a 6.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 675,000 shares of company stock worth $9,285,750 and have sold 739,842 shares worth $15,155,503. 63.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Asana

Several large investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Asana during the fourth quarter worth $29,000. KBC Group NV increased its stake in Asana by 52.1% in the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after purchasing an additional 1,211 shares in the last quarter. Quest Partners LLC acquired a new stake in Asana during the 3rd quarter worth about $43,000. Bogart Wealth LLC purchased a new stake in Asana during the fourth quarter valued at about $61,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Asana during the fourth quarter valued at about $82,000. 26.21% of the stock is owned by institutional investors.

Asana Stock Up 2.0 %

Shares of Asana stock opened at $15.38 on Friday. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -13.73 and a beta of 1.13. Asana has a twelve month low of $11.05 and a twelve month high of $27.77. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The business’s 50 day simple moving average is $19.25 and its 200-day simple moving average is $16.91.

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.