Asana (NYSE:ASAN) Stock Price Up 12.4% - Should You Buy?

Asana, Inc. (NYSE:ASAN - Get Free Report)'s stock price was up 12.4% during mid-day trading on Monday . The company traded as high as $21.31 and last traded at $22.08. Approximately 1,017,883 shares changed hands during trading, a decline of 62% from the average daily volume of 2,668,694 shares. The stock had previously closed at $19.65.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ASAN shares. Citigroup upped their price target on shares of Asana from $16.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, January 16th. Oppenheimer increased their target price on shares of Asana from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Morgan Stanley lifted their price target on shares of Asana from $14.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on Asana from $13.00 to $15.00 and gave the company an "underweight" rating in a research report on Friday, December 6th. Finally, JMP Securities lifted their target price on Asana from $21.00 to $25.00 and gave the stock a "market outperform" rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $17.73.

Asana Stock Down 0.1 %

The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a market cap of $4.88 billion, a price-to-earnings ratio of -19.04 and a beta of 1.10. The business has a fifty day moving average price of $20.35 and a two-hundred day moving average price of $15.54.

Insiders Place Their Bets

In related news, Director Justin Rosenstein sold 200,000 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $21.67, for a total value of $4,334,000.00. Following the completion of the sale, the director now owns 1,847,309 shares of the company's stock, valued at approximately $40,031,186.03. The trade was a 9.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Anne Raimondi sold 27,233 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $21.71, for a total transaction of $591,228.43. Following the transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at approximately $15,931,992.05. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 377,233 shares of company stock worth $7,926,728 in the last quarter. 63.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Asana

Large investors have recently bought and sold shares of the business. Bogart Wealth LLC bought a new position in Asana during the fourth quarter valued at about $61,000. KBC Group NV raised its stake in shares of Asana by 52.1% in the 3rd quarter. KBC Group NV now owns 3,534 shares of the company's stock valued at $41,000 after acquiring an additional 1,211 shares in the last quarter. Quest Partners LLC bought a new position in shares of Asana in the 3rd quarter valued at approximately $43,000. Empirical Asset Management LLC acquired a new stake in Asana in the 4th quarter worth approximately $218,000. Finally, MQS Management LLC bought a new stake in Asana during the third quarter worth approximately $141,000. 26.21% of the stock is currently owned by institutional investors.

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.