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

Asana, Inc. (NYSE:ASAN) has received an average rating of “Hold” from the fifteen brokerages that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $16.53.

Several brokerages recently commented on ASAN. Scotiabank upped their price target on shares of Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. Jefferies Financial Group increased their target price on Asana from $13.00 to $16.00 and gave the company a “hold” rating in a report on Friday, December 6th. Morgan Stanley raised their target price on Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Royal Bank of Canada reissued an “underperform” rating and set a $10.00 price target on shares of Asana in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. raised their price objective on Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th.

Asana Price Performance

ASAN stock opened at $23.42 on Wednesday. Asana has a one year low of $11.05 and a one year high of $26.10. The firm has a 50-day moving average of $13.64 and a two-hundred day moving average of $13.34. The firm has a market capitalization of $5.34 billion, a PE ratio of -20.91 and a beta of 1.22. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17.

Insider Activity

In other news, insider Eleanor B. Lacey sold 4,977 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $58,678.83. Following the transaction, the insider now owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. This represents a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Anne Raimondi sold 29,807 shares of the business’s 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 owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. This trade represents a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,092 shares of company stock worth $527,668. 63.97% of the stock is owned by corporate insiders.

Institutional Trading of Asana

Several large investors have recently modified their holdings of ASAN. Neo Ivy Capital Management lifted its position in Asana by 195.1% during the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock worth $1,964,000 after acquiring an additional 112,038 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock valued at $21,605,000 after purchasing an additional 12,055 shares during the last quarter. Barclays PLC increased its stake in shares of Asana by 103.0% in the third quarter. Barclays PLC now owns 165,753 shares of the company’s stock worth $1,920,000 after purchasing an additional 84,114 shares during the period. XTX Topco Ltd acquired a new position in shares of Asana during the 3rd quarter worth about $538,000. Finally, Quadrature Capital Ltd bought a new stake in Asana during the 3rd quarter valued at approximately $189,000. 26.21% of the stock is owned by institutional investors.

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.