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

Asana, Inc. (NYSE:ASAN) has earned a consensus rating of “Hold” from the fifteen research firms that are covering the stock, MarketBeat Ratings reports. Two equities research 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 twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $17.27.

Several research firms have commented on ASAN. KeyCorp upgraded shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target for the company in a report on Friday, December 6th. Scotiabank increased their target price on Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. Robert W. Baird boosted their price objective on shares of Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley upped their target price on Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group lifted their price objective on shares of Asana from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Monday.

Asana Stock Performance

Shares of Asana stock opened at $20.39 on Friday. The business has a 50-day simple moving average of $18.09 and a 200-day simple moving average of $14.72. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana has a one year low of $11.05 and a one year high of $27.77. The company has a market cap of $4.66 billion, a PE ratio of -18.21 and a beta of 1.10.

Insider Activity

In related news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.71, for a total value of $591,228.43. Following the sale, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. This represents a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

Institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Asana by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock worth $238,000 after purchasing an additional 1,769 shares during the period. Rhumbline Advisers increased its holdings in shares of Asana by 2.2% during the 2nd quarter. Rhumbline Advisers now owns 115,958 shares of the company’s stock worth $1,622,000 after buying an additional 2,464 shares during the last quarter. Arizona State Retirement System raised its position in shares of Asana by 3.6% in the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock worth $327,000 after buying an additional 803 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Asana by 26.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after acquiring an additional 1,028 shares during the last quarter. Finally, Headlands Technologies LLC grew its position in Asana by 327.9% during the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after acquiring an additional 2,220 shares during the period. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.