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

Asana, Inc. (NYSE:ASAN - Get Free Report) has received an average rating of "Hold" from the fifteen brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $15.60.

Several brokerages have recently weighed in on ASAN. Citigroup lifted their price target on shares of Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Scotiabank cut their price objective on Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a research note on Tuesday, March 11th. DA Davidson lowered their price target on shares of Asana from $20.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price objective on shares of Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a research report on Tuesday, March 11th. Finally, Piper Sandler dropped their price objective on Asana from $27.00 to $18.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th.

Asana Stock Down 1.4 %

Shares of Asana stock traded down $0.21 on Tuesday, reaching $14.84. The company's stock had a trading volume of 1,683,310 shares, compared to its average volume of 2,748,451. The firm's fifty day simple moving average is $16.85 and its two-hundred day simple moving average is $17.33. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -13.25 and a beta of 1.23. Asana has a 52 week low of $11.05 and a 52 week high of $27.77.

Insider Activity at Asana

In related news, Director Justin Rosenstein sold 200,000 shares of the business's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $21.67, for a total transaction of $4,334,000.00. Following the completion of the transaction, the director now owns 1,847,309 shares in the company, valued at approximately $40,031,186.03. The trade was a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Anne Raimondi sold 18,775 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $14.03, for a total value of $263,413.25. Following the sale, the chief operating officer now directly owns 716,580 shares in the company, valued at $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 quarter, insiders bought 2,074,507 shares of company stock valued at $30,025,743 and sold 739,842 shares valued at $15,155,503. 63.97% of the stock is currently owned by insiders.

Institutional Trading of Asana

Several institutional investors have recently modified their holdings of ASAN. Quarry LP purchased a new stake in Asana in the fourth quarter valued at $29,000. Bogart Wealth LLC acquired a new stake in shares of Asana in the 4th quarter valued at about $61,000. SBI Securities Co. Ltd. purchased a new position in Asana during the 4th quarter worth approximately $82,000. KBC Group NV increased its position in Asana by 58.8% during the fourth quarter. KBC Group NV now owns 5,612 shares of the company's stock worth $114,000 after buying an additional 2,078 shares during the period. Finally, State of Tennessee Department of Treasury purchased a new stake in Asana in the fourth quarter valued at approximately $135,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

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.