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

Shares of Asana, Inc. (NYSE:ASAN) have been given an average recommendation of “Hold” by the fifteen analysts that are currently covering the firm, Marketbeat 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 price target among brokerages that have updated their coverage on the stock in the last year is $16.53.

ASAN has been the subject of several recent analyst reports. Scotiabank raised their target price on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, December 6th. Bank of America reduced their price objective on Asana from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. UBS Group dropped their target price on Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. JMP Securities raised their price target on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, December 6th. Finally, Oppenheimer upped their price objective 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.

Insider Activity at Asana

In other news, COO Anne Raimondi sold 29,807 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $357,385.93. Following the completion of the sale, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. This represents a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eleanor B. Lacey sold 9,308 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $111,602.92. Following the completion of the sale, the insider now owns 375,310 shares in the company, valued at approximately $4,499,966.90. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,092 shares of company stock worth $527,668. 63.97% of the stock is owned by insiders.

Institutional Trading of Asana

A number of hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC increased its holdings in shares of Asana by 327.9% during the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after purchasing an additional 2,220 shares during the period. KBC Group NV grew its position in Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after buying an additional 1,211 shares in the last quarter. Quest Partners LLC bought a new position in Asana during the third quarter valued at about $43,000. Redwood Wealth Management Group LLC bought a new position in Asana during the second quarter valued at about $65,000. Finally, Daiwa Securities Group Inc. raised its holdings in Asana by 26.0% in the 2nd 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 in the last quarter. 26.21% of the stock is owned by institutional investors.

Asana Trading Down 4.3 %

Asana stock opened at $26.33 on Wednesday. Asana has a 52 week low of $11.05 and a 52 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. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of -23.50 and a beta of 1.22. The company has a 50 day moving average price of $15.27 and a 200 day moving average price of $13.81.

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.