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

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

Several research firms have weighed in on ASAN. Oppenheimer lifted their target price on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 price objective on shares of Asana in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their target price on shares of Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. KeyCorp upgraded shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target on the stock in a report on Friday, December 6th. Finally, DA Davidson increased their price objective on Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, December 6th.

Insider Activity at Asana

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Asana by 105.6% in the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after purchasing an additional 427,576 shares during the last quarter. Neo Ivy Capital Management boosted its stake in Asana by 195.1% during the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock valued at $1,964,000 after purchasing an additional 112,038 shares during the period. Geode Capital Management LLC grew its holdings in Asana by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock valued at $21,605,000 after buying an additional 12,055 shares during the last quarter. Barclays PLC increased its position in Asana by 103.0% in the 3rd quarter. Barclays PLC now owns 165,753 shares of the company’s stock worth $1,920,000 after buying an additional 84,114 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Asana during the third quarter worth approximately $538,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Stock Performance

Shares of ASAN stock opened at $19.56 on Friday. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of -17.46 and a beta of 1.10. Asana has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The stock’s fifty day simple moving average is $18.38 and its 200-day simple moving average is $14.79.

About Asana

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.