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

Asana, Inc. (NYSE:ASAN) has received a consensus rating of “Hold” from the fifteen analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $15.67.

Several analysts have recently issued reports on ASAN shares. JPMorgan Chase & Co. reduced their price objective on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 11th. UBS Group reduced their price target on Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. DA Davidson cut their target price on shares of Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Piper Sandler reduced their target price on shares of Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Finally, Citigroup boosted their price target on shares of Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th.

Insider Activity

In other news, Director Justin Rosenstein sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $12.89, for a total transaction of $322,250.00. Following the transaction, the director now directly owns 922,309 shares in the company, valued at approximately $11,888,563.01. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average price of $14.34 per share, with a total value of $3,226,500.00. Following the transaction, the chief executive officer now owns 49,023,436 shares in the company, valued at $702,996,072.24. The trade was a 0.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 675,000 shares of company stock valued at $9,285,750 and sold 721,067 shares valued at $14,892,089. Company insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of Asana during the fourth quarter worth about $29,000. Bogart Wealth LLC acquired a new stake in Asana during the 4th quarter worth approximately $61,000. KBC Group NV lifted its position in 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 position in shares of Asana in the third quarter valued at approximately $43,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Asana during the fourth quarter worth approximately $82,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Asana Price Performance

Asana stock opened at $14.00 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana has a 52-week low of $11.05 and a 52-week high of $27.77. The firm has a market cap of $3.20 billion, a PE ratio of -12.50 and a beta of 1.13. The company’s 50 day moving average is $19.49 and its two-hundred day moving average is $16.81.

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.