Analysts Set Asana, Inc. (NYSE:ASAN) Target Price at $18.75

Shares of Asana, Inc. (NYSE:ASAN) have been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $18.75.

Several equities analysts have recently issued reports on the stock. HSBC raised shares of Asana from a “reduce” rating to a “hold” rating and reduced their price target for the company from $16.00 to $14.00 in a report on Monday, June 3rd. Piper Sandler raised shares of Asana from an “underweight” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $16.00 in a report on Friday, May 31st. KeyCorp reduced their price target on shares of Asana from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Friday, May 31st. Jefferies Financial Group reduced their price objective on shares of Asana from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, May 31st. Finally, UBS Group reduced their price objective on shares of Asana from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, May 24th.

Insider Activity at Asana

In related news, CFO Tim M. Wan sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $15.00, for a total value of $150,000.00. Following the completion of the transaction, the chief financial officer now directly owns 753,888 shares in the company, valued at approximately $11,308,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Asana news, CFO Tim M. Wan sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $15.00, for a total value of $150,000.00. Following the sale, the chief financial officer now owns 753,888 shares in the company, valued at approximately $11,308,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eleanor B. Lacey sold 4,462 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $15.47, for a total value of $69,027.14. Following the sale, the insider now owns 220,739 shares in the company, valued at approximately $3,414,832.33. The disclosure for this sale can be found here. In the last three months, insiders sold 24,462 shares of company stock worth $369,027. 63.97% of the stock is owned by company insiders.

Institutional Trading of Asana

Several large investors have recently modified their holdings of the stock. Corton Capital Inc. lifted its position in shares of Asana by 6.5% during the 3rd quarter. Corton Capital Inc. now owns 11,017 shares of the company’s stock worth $202,000 after buying an additional 669 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in shares of Asana by 26.2% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock worth $61,000 after buying an additional 669 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Asana by 2.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,243 shares of the company’s stock worth $689,000 after buying an additional 808 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Asana by 4.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 20,319 shares of the company’s stock worth $386,000 after buying an additional 828 shares during the last quarter. Finally, Diversified Trust Co lifted its position in shares of Asana by 4.3% during the 4th quarter. Diversified Trust Co now owns 21,435 shares of the company’s stock worth $407,000 after buying an additional 875 shares during the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Stock Performance

Shares of ASAN opened at $13.07 on Wednesday. Asana has a 1 year low of $11.29 and a 1 year high of $24.81. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -11.17 and a beta of 1.15. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a fifty day moving average of $14.20 and a 200-day moving average of $16.65.

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.