Asana, Inc. (NYSE:ASAN) Receives Average Recommendation of “Hold” from Analysts

Asana, Inc. (NYSE:ASAN) has earned an average rating of “Hold” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $15.67.

A number of equities analysts have weighed in on ASAN shares. Morgan Stanley reduced their price objective on shares of Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Royal Bank of Canada restated an “underperform” rating and set a $10.00 price target on shares of Asana in a research report on Friday, December 6th. Jefferies Financial Group decreased their price target on shares of Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, March 11th. JMP Securities set a $22.00 price objective on Asana in a research note on Tuesday, March 11th. Finally, Oppenheimer raised their target price on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 6th.

Insider Buying and Selling at Asana

In other Asana news, CEO Dustin A. Moskovitz bought 225,000 shares of Asana stock in a transaction on Monday, March 17th. The shares were bought 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 $680,999,572.72. This trade represents a 0.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Justin Rosenstein sold 196,067 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $21.78, for a total value of $4,270,339.26. Following the transaction, the director now owns 1,651,242 shares of the company’s stock, valued at approximately $35,964,050.76. This represents a 10.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 675,000 shares of company stock worth $9,285,750 and have sold 721,067 shares worth $14,892,089. 63.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vise Technologies Inc. lifted its holdings in shares of Asana by 6.5% in the 4th quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock worth $320,000 after acquiring an additional 959 shares during the last quarter. KBC Group NV lifted its stake 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 purchasing an additional 1,211 shares in the last quarter. Quarry LP purchased a new position in shares of Asana during the fourth quarter worth $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Asana by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,218 shares of the company’s stock valued at $937,000 after buying an additional 2,538 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of Asana by 5.7% in the 4th quarter. MetLife Investment Management LLC now owns 49,483 shares of the company’s stock valued at $1,003,000 after buying an additional 2,668 shares during the period. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Stock Down 1.9 %

Asana stock opened at $14.00 on Friday. Asana has a 12 month low of $11.05 and a 12 month high of $27.77. The stock has a market capitalization of $3.20 billion, a PE ratio of -12.50 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The business has a 50 day simple moving average of $19.49 and a 200-day simple moving average of $16.81.

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.