Asana, Inc. (NYSE:ASAN) Receives $15.67 Average PT from Analysts

Shares of Asana, Inc. (NYSE:ASAN) have earned an average rating of “Hold” from the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. Two 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 objective among brokerages that have issued a report on the stock in the last year is $15.67.

ASAN has been the topic of a number of analyst reports. Scotiabank decreased their target price on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Tuesday, March 11th. UBS Group decreased their price objective on Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. DA Davidson dropped their target price on Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Piper Sandler decreased their price target on Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Finally, Oppenheimer increased their price objective on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 6th.

Insider Activity at Asana

In related news, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total value of $3,001,500.00. Following the sale, the director now directly owns 2,047,309 shares of the company’s stock, valued at $40,966,653.09. This represents a 6.83 % 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 18,775 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total value of $263,413.25. Following the completion of the transaction, the chief operating officer now owns 716,580 shares of the company’s stock, valued at approximately $10,053,617.40. This trade represents a 2.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 900,000 shares of company stock worth $12,735,000 and have sold 739,842 shares worth $15,155,503. 63.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Asana

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after buying an additional 427,576 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Asana in the third quarter worth $538,000. Neo Ivy Capital Management increased its holdings in shares of Asana by 195.1% during the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock valued at $1,964,000 after acquiring an additional 112,038 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Asana by 7.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company’s stock worth $14,083,000 after purchasing an additional 48,831 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Asana in the 4th quarter worth about $2,349,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Asana Trading Down 2.7 %

NYSE ASAN opened at $14.77 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The stock’s 50-day simple moving average is $19.06 and its two-hundred day simple moving average is $16.88. Asana has a twelve month low of $11.05 and a twelve month high of $27.77. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -13.18 and a beta of 1.13.

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.