Asana, Inc. (NYSE:ASAN) Given Average Rating of "Hold" by Brokerages

Shares of Asana, Inc. (NYSE:ASAN - Get Free Report) have earned an average rating of "Hold" from the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $15.67.

A number of equities research analysts have recently issued reports on the company. Oppenheimer upped their price objective on Asana from $20.00 to $22.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Scotiabank cut their price target on shares of Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a research note on Tuesday, March 11th. Bank of America lowered their price objective on shares of Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. JMP Securities set a $22.00 target price on shares of Asana in a research note on Tuesday, March 11th. Finally, Morgan Stanley lowered their price target on Asana from $18.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 12th.

Insider Buying and Selling

In related news, Director Justin Rosenstein sold 196,067 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $21.78, for a total value of $4,270,339.26. Following the completion of the sale, the director now directly owns 1,651,242 shares in the company, valued at approximately $35,964,050.76. The trade was a 10.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Anne Raimondi sold 18,775 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total value of $263,413.25. Following the transaction, the chief operating officer now owns 716,580 shares in the company, valued at approximately $10,053,617.40. This trade represents a 2.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 675,000 shares of company stock valued at $9,285,750 and have sold 739,842 shares valued at $15,155,503. 63.97% of the stock is owned by insiders.

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Institutional Trading of Asana

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

Asana Stock Up 2.0 %

ASAN traded up $0.30 on Friday, hitting $15.38. 2,450,772 shares of the company were exchanged, compared to its average volume of 2,577,985. The stock's fifty day moving average is $19.32 and its 200-day moving average is $16.88. Asana has a 12 month low of $11.05 and a 12 month high of $27.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market cap of $3.52 billion, a PE ratio of -13.73 and a beta of 1.13.

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.