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

Shares of Asana, Inc. (NYSE:ASAN) have been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $17.27.

Several equities analysts recently weighed in on ASAN shares. Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 target price on shares of Asana in a research note on Friday, December 6th. Piper Sandler upgraded Asana from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $27.00 in a research report on Monday, January 6th. Oppenheimer increased their price target on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. DA Davidson lifted their price objective on Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, JMP Securities increased their target price on Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research report on Friday, December 6th.

Insider Buying and Selling at Asana

In other news, COO Anne Raimondi sold 27,233 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.71, for a total value of $591,228.43. Following the completion of the transaction, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASAN. Headlands Technologies LLC boosted its holdings in shares of Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after buying an additional 2,220 shares in the last quarter. KBC Group NV lifted its position in 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 Asana in the third quarter valued at approximately $43,000. Redwood Wealth Management Group LLC purchased a new position in Asana in the second quarter worth $65,000. Finally, Daiwa Securities Group Inc. increased its position in shares of Asana by 26.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after purchasing an additional 1,028 shares in the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Trading Down 2.1 %

Shares of ASAN opened at $19.23 on Friday. The firm has a market cap of $4.40 billion, a P/E ratio of -17.17 and a beta of 1.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. Asana has a 1 year low of $11.05 and a 1 year high of $27.77. The company has a 50 day simple moving average of $18.51 and a two-hundred day simple moving average of $14.85.

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.