Analysts Set Asana, Inc. (NYSE:ASAN) Target Price at $15.53

Asana, Inc. (NYSE:ASAN) has been assigned an average recommendation of “Hold” from the fifteen ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $15.53.

Several research firms recently issued reports on ASAN. JPMorgan Chase & Co. decreased their target price on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 11th. UBS Group decreased their target price on Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Scotiabank decreased their target price 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. Jefferies Financial Group decreased their target price on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, March 11th. Finally, Robert W. Baird decreased their target price on Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th.

Asana Stock Performance

Shares of Asana stock opened at $18.22 on Friday. The business’s fifty day simple moving average is $15.44 and its 200-day simple moving average is $17.89. Asana has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The firm has a market cap of $4.25 billion, a PE ratio of -16.27 and a beta of 1.21.

Insider Activity

In other Asana news, CEO Dustin A. Moskovitz purchased 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were purchased at an average cost of $15.84 per share, for a total transaction of $792,000.00. Following the completion of the purchase, the chief executive officer now directly owns 51,398,436 shares in the company, valued at $814,151,226.24. This represents a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justin Rosenstein sold 150,000 shares of Asana stock in a transaction on Monday, February 24th. The stock was sold at an average price of $19.76, for a total value of $2,964,000.00. Following the transaction, the director now directly owns 1,097,309 shares of the company’s stock, valued at approximately $21,682,825.84. This represents a 12.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 2,074,507 shares of company stock worth $30,025,743 and have sold 193,775 shares worth $3,549,663. Company insiders own 61.28% of the company’s stock.

Hedge Funds Weigh In On Asana

A number of institutional investors have recently made changes to their positions in the stock. Vise Technologies Inc. raised its holdings in shares of Asana by 6.5% in the fourth 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. SG Americas Securities LLC increased its stake in Asana by 3.1% in the first quarter. SG Americas Securities LLC now owns 32,460 shares of the company’s stock valued at $473,000 after purchasing an additional 974 shares during the last quarter. Quarry LP acquired a new position in Asana in the fourth quarter valued at $29,000. Retirement Planning Co of New England Inc. increased its stake in Asana by 12.7% in the first quarter. Retirement Planning Co of New England Inc. now owns 16,512 shares of the company’s stock valued at $241,000 after purchasing an additional 1,855 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in Asana in the first quarter valued at $28,000. 26.21% of the stock is owned by institutional investors and hedge funds.

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.