Analysts Set Asana, Inc. (NYSE:ASAN) Price Target at $17.73

Asana, Inc. (NYSE:ASAN) has been assigned an average recommendation of “Hold” from the fifteen research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $17.73.

A number of research firms have weighed in on ASAN. 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 report on Friday, December 6th. Morgan Stanley raised their target price on shares of Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Jefferies Financial Group raised their target price on shares of Asana from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Royal Bank of Canada reiterated an “underperform” rating and issued a $10.00 price objective on shares of Asana in a research report on Friday, December 6th. Finally, Scotiabank upped their price target on shares of Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th.

Insider Activity at Asana

In other Asana news, Director Justin Rosenstein sold 200,000 shares of the business’s stock in a transaction that occurred 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 directly owns 1,847,309 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Also, COO Anne Raimondi sold 27,233 shares of the business’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 owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. This represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 377,233 shares of company stock valued at $7,926,728. 63.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Asana

A number of institutional investors and hedge funds have recently made changes to their positions in ASAN. Marshall Wace LLP bought a new position in shares of Asana during the 2nd quarter worth approximately $3,159,000. AQR Capital Management LLC grew its position in Asana by 25.6% in the second quarter. AQR Capital Management LLC now owns 32,503 shares of the company’s stock worth $444,000 after acquiring an additional 6,634 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Asana by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock worth $687,000 after purchasing an additional 1,888 shares during the last quarter. Scientech Research LLC bought a new position in shares of Asana during the second quarter valued at about $146,000. Finally, SG Americas Securities LLC bought a new position in Asana in the third quarter worth about $456,000. Institutional investors own 26.21% of the company’s stock.

Asana Stock Down 0.6 %

NYSE:ASAN opened at $21.22 on Thursday. The company’s 50 day moving average is $20.35 and its two-hundred day moving average is $15.55. The company has a market cap of $4.85 billion, a PE ratio of -18.94 and a beta of 1.10. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana has a twelve month low of $11.05 and a twelve month 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.