Asana (NYSE:ASAN) Trading 8.5% Higher

Asana, Inc. (NYSE:ASANGet Free Report) rose 8.5% during mid-day trading on Friday . The stock traded as high as $12.35 and last traded at $12.34. Approximately 632,156 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 1,999,068 shares. The stock had previously closed at $11.37.

Wall Street Analyst Weigh In

ASAN has been the subject of several recent research reports. HSBC upgraded Asana from a “reduce” rating to a “hold” rating and lowered their price target for the company from $16.00 to $14.00 in a report on Monday, June 3rd. UBS Group reduced their price target on shares of Asana from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 price target on shares of Asana in a research report on Friday, May 31st. Oppenheimer cut their target price on shares of Asana from $28.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Finally, Jefferies Financial Group cut their target price on shares of Asana from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.75.

Get Our Latest Stock Analysis on ASAN

Asana Stock Up 8.8 %

The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -10.57 and a beta of 1.15. The stock’s 50 day moving average is $14.30 and its 200 day moving average is $16.75.

Insiders Place Their Bets

In other Asana news, CFO Tim M. Wan sold 10,000 shares of Asana stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the transaction, the chief financial officer now owns 753,888 shares in the company, valued at $11,308,320. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Asana news, insider Eleanor B. Lacey sold 4,462 shares of Asana stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $15.47, for a total value of $69,027.14. Following the transaction, the insider now owns 220,739 shares in the company, valued at $3,414,832.33. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Tim M. Wan sold 10,000 shares of Asana stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the transaction, the chief financial officer now owns 753,888 shares in the company, valued at $11,308,320. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,462 shares of company stock worth $369,027. 63.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Asana

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Asana by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock valued at $144,462,000 after buying an additional 490,823 shares during the period. Champlain Investment Partners LLC boosted its stake in shares of Asana by 26.9% during the 1st quarter. Champlain Investment Partners LLC now owns 4,032,035 shares of the company’s stock valued at $62,456,000 after buying an additional 854,355 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Asana by 15.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock valued at $33,891,000 after buying an additional 235,135 shares during the period. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Asana during the 4th quarter valued at $25,246,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Asana by 6.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 696,277 shares of the company’s stock valued at $13,236,000 after buying an additional 43,564 shares during the period. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

About Asana

(Get Free Report)

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.

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