Brokerages Set Asana, Inc. (NYSE:ASAN) Target Price at $16.53

Asana, Inc. (NYSE:ASAN - Get Free Report) has been assigned an average rating of "Hold" from the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $16.53.

Several research firms have recently issued reports on ASAN. DA Davidson increased their price objective on shares of Asana from $13.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Robert W. Baird increased their price objective on shares of Asana from $13.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Bank of America dropped their price objective on shares of Asana from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, September 4th. 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 research report on Friday, December 6th. Finally, JMP Securities increased their price objective on shares of Asana from $21.00 to $25.00 and gave the stock a "market outperform" rating in a research report on Friday, December 6th.

Asana Trading Up 3.8 %

NYSE:ASAN traded up $0.89 during trading hours on Wednesday, reaching $24.32. 6,355,811 shares of the company were exchanged, compared to its average volume of 2,189,717. 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 firm has a market cap of $5.55 billion, a price-to-earnings ratio of -20.91 and a beta of 1.22. Asana has a 52-week low of $11.05 and a 52-week high of $26.10. The stock has a 50 day simple moving average of $13.89 and a 200 day simple moving average of $13.41.

Insiders Place Their Bets

In related news, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $357,385.93. Following the sale, the chief operating officer now directly owns 761,088 shares in the company, valued at $9,125,445.12. This trade represents a 3.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eleanor B. Lacey sold 4,977 shares of Asana stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $58,678.83. Following the completion of the sale, the insider now owns 370,333 shares in the company, valued at approximately $4,366,226.07. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,092 shares of company stock valued at $527,668 in the last ninety days. Corporate insiders own 63.97% of the company's stock.

Institutional Trading of Asana

Hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in shares of Asana during the 2nd quarter worth about $17,100,000. Cubist Systematic Strategies LLC bought a new stake in shares of Asana during the 2nd quarter worth about $5,169,000. Marshall Wace LLP bought a new position in shares of Asana in the second quarter valued at $3,159,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Asana in the second quarter valued at $3,050,000. Finally, Holocene Advisors LP increased its holdings in shares of Asana by 62.2% in the third quarter. Holocene Advisors LP now owns 305,167 shares of the company's stock valued at $3,537,000 after buying an additional 116,998 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors.

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.