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

Asana, Inc. (NYSE:ASAN) has been given an average rating of “Hold” by the fifteen brokerages that are covering the stock, MarketBeat reports. Two investment 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 twelve-month price target among brokerages that have issued a report on the stock in the last year is $17.73.

Several brokerages recently issued reports on ASAN. 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 report on Friday, December 6th. JPMorgan Chase & Co. upped 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. Oppenheimer increased their price target 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. 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. Finally, Morgan Stanley increased their price objective on Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th.

Asana Trading Up 1.1 %

Shares of ASAN opened at $22.18 on Thursday. The stock has a fifty day moving average price of $20.59 and a two-hundred day moving average price of $15.65. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market cap of $5.07 billion, a price-to-earnings ratio of -19.80 and a beta of 1.11. Asana has a 52-week low of $11.05 and a 52-week high of $27.77.

Insiders Place Their Bets

In related news, Director Justin Rosenstein sold 150,000 shares of the business’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 transaction of $3,001,500.00. Following the completion of the transaction, the director now owns 2,047,309 shares in the company, valued at approximately $40,966,653.09. The trade was a 6.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Anne Raimondi sold 27,233 shares of the company’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 completion of the sale, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at $15,931,992.05. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 377,233 shares of company stock worth $7,926,728. Insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV increased its holdings in shares of Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after acquiring an additional 1,211 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Asana by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock valued at $687,000 after purchasing an additional 1,888 shares during the period. Harbor Capital Advisors Inc. increased its stake in Asana by 16.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 16,974 shares of the company’s stock worth $197,000 after purchasing an additional 2,350 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Asana by 19.0% during the 4th quarter. Handelsbanken Fonder AB now owns 18,200 shares of the company’s stock worth $369,000 after buying an additional 2,900 shares during the period. Finally, Bogart Wealth LLC bought a new position in Asana in the fourth quarter valued at approximately $61,000. 26.21% of the stock is currently owned by institutional investors.

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.