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

Asana, Inc. (NYSE:ASAN - Get Free Report) has been assigned an average rating of "Hold" from the fifteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $17.73.

Several analysts have weighed in on ASAN shares. Jefferies Financial Group raised their price target on Asana from $16.00 to $19.00 and gave the company a "hold" rating in a report on Monday, January 6th. Royal Bank of Canada reissued an "underperform" rating and issued a $10.00 price target on shares of Asana in a report on Friday, December 6th. KeyCorp raised shares of Asana from an "underweight" rating to a "sector weight" rating and set a $10.00 price objective for the company in a report on Friday, December 6th. Scotiabank raised their price target on Asana from $15.00 to $18.00 and gave the company a "sector perform" rating in a research report on Friday, December 6th. Finally, JMP Securities upped their price objective on Asana from $21.00 to $25.00 and gave the stock a "market outperform" rating in a report on Friday, December 6th.

Insider Activity

In related news, COO Anne Raimondi sold 27,233 shares of the company'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 owns 733,855 shares in the company, valued at $15,931,992.05. This represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justin Rosenstein sold 150,000 shares of Asana stock in a transaction on Thursday, January 23rd. The shares were 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 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. Insiders own 63.97% of the company's stock.

Institutional Trading of Asana

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company's stock valued at $9,650,000 after purchasing an additional 427,576 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Asana in the third quarter worth $538,000. Neo Ivy Capital Management increased its holdings in shares of Asana by 195.1% during the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company's stock valued at $1,964,000 after acquiring an additional 112,038 shares in the last quarter. Friedenthal Financial purchased a new position in shares of Asana in the 4th quarter worth about $762,000. Finally, Marshall Wace LLP bought a new position in Asana in the 2nd quarter worth about $3,159,000. 26.21% of the stock is owned by institutional investors.

Asana Stock Performance

ASAN traded down $0.32 on Thursday, hitting $21.38. The company's stock had a trading volume of 4,441,404 shares, compared to its average volume of 3,251,343. The company's 50 day simple moving average is $20.11 and its 200-day simple moving average is $15.44. 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 12 month low of $11.05 and a 12 month high of $27.77. The firm has a market cap of $4.89 billion, a P/E ratio of -19.09 and a beta of 1.10.

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.