Asana, Inc. (NYSE:ASAN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Asana, Inc. (NYSE:ASAN) have been given a consensus recommendation of “Hold” by the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $16.53.

ASAN has been the subject of several research reports. Oppenheimer increased their price objective on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 6th. DA Davidson increased their price target on Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Robert W. Baird upped their price objective on Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Jefferies Financial Group raised their target price on shares of Asana from $13.00 to $16.00 and gave the company a “hold” rating in a report on Friday, December 6th.

Insider Activity at Asana

In other Asana news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.71, for a total value of $591,228.43. Following the sale, the chief operating officer now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 63.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Asana by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock valued at $21,605,000 after buying an additional 12,055 shares during the period. Point72 Asset Management L.P. bought a new position in Asana in the second quarter worth approximately $17,100,000. JPMorgan Chase & Co. increased its holdings in Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after purchasing an additional 427,576 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Asana during the 2nd quarter valued at $5,169,000. Finally, Holocene Advisors LP lifted its holdings in shares of Asana by 62.2% in the 3rd quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock worth $3,537,000 after buying an additional 116,998 shares during the period. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Price Performance

Shares of NYSE:ASAN opened at $20.61 on Friday. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of -18.40 and a beta of 1.22. The firm has a fifty day moving average price of $17.72 and a 200 day moving average price of $14.58. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49.

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.