Asana, Inc. (NYSE:ASAN) Receives Average Recommendation of “Hold” from Analysts

Shares of Asana, Inc. (NYSE:ASAN) have received a consensus recommendation of “Hold” from the fifteen research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.53.

Several research analysts have recently commented on ASAN shares. Scotiabank lifted their target price on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, December 6th. Oppenheimer boosted 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. Citigroup reduced their price target on shares of Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. JMP Securities boosted their price objective on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research report on Friday, December 6th. Finally, Robert W. Baird raised their target price on shares of Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 6th.

Asana Stock Performance

Shares of ASAN stock opened at $23.42 on Wednesday. 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 stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of -20.91 and a beta of 1.22. Asana has a one year low of $11.05 and a one year high of $26.10. The company’s 50-day simple moving average is $13.64 and its 200-day simple moving average is $13.34.

Insider Transactions at Asana

In other news, insider Eleanor B. Lacey sold 4,977 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $58,678.83. Following the completion of the transaction, the insider now directly owns 370,333 shares in the company, valued at $4,366,226.07. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Anne Raimondi sold 29,807 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the transaction, the chief operating officer now owns 761,088 shares in the company, valued at $9,125,445.12. This represents a 3.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,092 shares of company stock valued at $527,668. 63.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Asana

Several institutional investors have recently modified their holdings of the company. Diversified Trust Co grew its holdings in Asana by 2.6% during the second quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock worth $489,000 after acquiring an additional 900 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Asana in the 2nd quarter worth approximately $803,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Asana by 11.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock worth $238,000 after purchasing an additional 1,769 shares in the last quarter. Versor Investments LP lifted its stake in Asana by 48.3% during the second quarter. Versor Investments LP now owns 23,200 shares of the company’s stock valued at $325,000 after purchasing an additional 7,557 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Asana by 2.2% during the second quarter. Rhumbline Advisers now owns 115,958 shares of the company’s stock worth $1,622,000 after buying an additional 2,464 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

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.