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

Shares of Asana, Inc. (NYSE:ASAN) have been assigned a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $15.67.

Several research firms recently issued reports on ASAN. DA Davidson cut their price target on shares of Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Oppenheimer boosted their target price on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Morgan Stanley reduced their price target on Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Scotiabank decreased their price target on Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Tuesday, March 11th. Finally, JMP Securities set a $22.00 price objective on Asana in a research report on Tuesday, March 11th.

Asana Stock Up 3.1 %

Shares of Asana stock opened at $14.44 on Friday. Asana has a one year low of $11.05 and a one year high of $27.77. The company has a market cap of $3.30 billion, a P/E ratio of -12.89 and a beta of 1.13. 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 firm has a fifty day moving average of $19.39 and a two-hundred day moving average of $16.86.

Insider Activity

In other Asana news, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total value of $3,001,500.00. Following the sale, the director now 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 accessible through the SEC website. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of the stock in a transaction dated Monday, March 17th. The stock was acquired at an average price of $14.02 per share, for a total transaction of $3,154,500.00. Following the completion of the transaction, the chief executive officer now directly owns 48,573,436 shares of the company’s stock, valued at approximately $680,999,572.72. The trade was a 0.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 675,000 shares of company stock worth $9,285,750 and sold 721,067 shares worth $14,892,089. Company insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

Several hedge funds have recently bought and sold shares of ASAN. KBC Group NV boosted its stake in shares of Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after acquiring an additional 1,211 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Asana during the 3rd quarter worth about $43,000. Intech Investment Management LLC acquired a new stake in shares of Asana during the 3rd quarter worth about $456,000. Quantbot Technologies LP grew its holdings in shares of Asana by 157.7% during the third quarter. Quantbot Technologies LP now owns 26,008 shares of the company’s stock worth $301,000 after buying an additional 15,917 shares in the last quarter. Finally, FMR LLC raised its position in shares of Asana by 1,419.9% in the third quarter. FMR LLC now owns 24,029 shares of the company’s stock valued at $278,000 after buying an additional 22,448 shares during the last quarter. 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.