Asana, Inc. (NYSE:ASAN) Receives Average Recommendation of "Hold" from Analysts

Asana, Inc. (NYSE:ASAN - Get Free Report) has earned a consensus recommendation of "Hold" from the fifteen brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $16.53.

A number of analysts have commented on the company. DA Davidson boosted their target price on Asana from $13.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. 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 report on Friday, December 6th. Oppenheimer lifted their price objective on Asana from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. JMP Securities upped their target price on Asana from $21.00 to $25.00 and gave the company a "market outperform" rating in a research note on Friday, December 6th. Finally, 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.

Insiders Place Their Bets

In other Asana news, COO Anne Raimondi sold 27,233 shares of the business's stock in a transaction dated 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 sale, the chief operating officer now owns 733,855 shares of the company's stock, valued at approximately $15,931,992.05. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 63.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Asana

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company's stock valued at $21,605,000 after buying an additional 12,055 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Asana in the second quarter worth $17,100,000. JPMorgan Chase & Co. raised its stake in shares of Asana by 105.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company's stock valued at $9,650,000 after acquiring an additional 427,576 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Asana during the 2nd quarter valued at $5,169,000. Finally, Holocene Advisors LP boosted its position in Asana by 62.2% during the 3rd quarter. Holocene Advisors LP now owns 305,167 shares of the company's stock worth $3,537,000 after purchasing an additional 116,998 shares during the period. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Price Performance

Shares of NYSE ASAN traded up $0.76 during trading on Friday, hitting $20.61. 2,066,070 shares of the company were exchanged, compared to its average volume of 2,378,335. The firm's fifty day moving average price is $17.72 and its 200 day moving average price is $14.60. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market cap of $4.71 billion, a price-to-earnings ratio of -18.40 and a beta of 1.22. Asana has a 1 year low of $11.05 and a 1 year high of $27.77.

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.