Asana, Inc. (NYSE:ASAN) Receives $17.73 Average Price Target from Brokerages

Asana, Inc. (NYSE:ASAN) has been given an average rating of “Hold” by the fifteen brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $17.73.

Several research firms have recently issued reports on ASAN. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target for the company in a research note on Friday, December 6th. Morgan Stanley upped their price objective on shares of Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Oppenheimer raised 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. JPMorgan Chase & Co. boosted their target price on shares of Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Finally, DA Davidson raised their price target on Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, December 6th.

Insider Buying and Selling

In other news, COO Anne Raimondi sold 27,233 shares of the firm’s 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 completion of the transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at $15,931,992.05. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total value of $3,001,500.00. Following the completion of the transaction, the director now directly owns 2,047,309 shares in the company, valued at $40,966,653.09. This trade represents a 6.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 723,300 shares of company stock valued at $15,161,068. 63.97% of the stock is owned by company insiders.

Institutional Trading of Asana

A number of hedge funds have recently bought and sold shares of ASAN. Arrowstreet Capital Limited Partnership bought a new position in shares of Asana in the fourth quarter worth about $38,966,000. Paradice Investment Management LLC bought a new position in Asana during the fourth quarter valued at $22,507,000. Two Sigma Investments LP lifted its holdings in shares of Asana by 288.1% in the 4th quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock valued at $28,481,000 after acquiring an additional 1,043,047 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of Asana by 8.1% in the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after purchasing an additional 937,726 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Asana in the fourth quarter valued at $11,781,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Trading Up 0.1 %

Shares of NYSE ASAN opened at $19.23 on Monday. 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 one year low of $11.05 and a one year high of $27.77. The business has a 50-day moving average price of $20.98 and a two-hundred day moving average price of $16.67. The firm has a market capitalization of $4.40 billion, a PE ratio of -17.17 and a beta of 1.11.

Asana Company Profile

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.