Analysts Set Asana, Inc. (NYSE:ASAN) PT at $16.53

Asana, Inc. (NYSE:ASAN) has received a consensus rating of “Hold” from the fifteen analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $17.27.

A number of research analysts have issued reports on ASAN shares. Morgan Stanley lifted their price objective on Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Royal Bank of Canada reiterated an “underperform” rating and issued a $10.00 price target on shares of Asana in a research note on Friday, December 6th. KeyCorp upgraded shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective for the company in a research note on Friday, December 6th. Oppenheimer upped their target price on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, December 6th.

Insider Activity

In related news, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction on Friday, December 20th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ASAN. XTX Topco Ltd bought a new stake in Asana during the 3rd quarter worth approximately $538,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Asana during the 2nd quarter valued at $3,050,000. Neo Ivy Capital Management lifted its stake in shares of Asana by 195.1% during the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock valued at $1,964,000 after buying an additional 112,038 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Asana during the 2nd quarter valued at $17,100,000. Finally, Marshall Wace LLP bought a new position in Asana in the 2nd quarter worth $3,159,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Asana Price Performance

ASAN stock opened at $19.23 on Friday. 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 firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of -17.17 and a beta of 1.10. The firm has a 50 day moving average price of $18.51 and a 200-day moving average price of $14.85. Asana has a 52-week low of $11.05 and a 52-week high of $27.77.

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.