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

by · The Cerbat Gem

Asana, Inc. (NYSE:ASAN – Get Free Report) has been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $17.73.

Several equities analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Oppenheimer lifted their price target on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Piper Sandler reissued an “overweight” rating and issued a $27.00 price objective on shares of Asana in a research report on Thursday, February 6th. Royal Bank of Canada reissued an “underperform” rating and issued a $10.00 target price on shares of Asana in a research note on Friday, December 6th. Finally, Citigroup upped their price target on shares of Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th.

Get Our Latest Stock Report on ASAN

Insider Buying and Selling at Asana

In other news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.71, for a total transaction of $591,228.43. Following the completion of the transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at approximately $15,931,992.05. This represents a 3.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Justin Rosenstein sold 200,000 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $21.67, for a total transaction of $4,334,000.00. Following the transaction, the director now directly owns 1,847,309 shares of the company’s stock, valued at approximately $40,031,186.03. This represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 723,300 shares of company stock worth $15,161,068 in the last 90 days. 63.97% of the stock is owned by corporate insiders.

Institutional Trading of Asana

Several institutional investors and hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new position in shares of Asana in the 4th quarter worth approximately $38,966,000. Paradice Investment Management LLC acquired a new position in Asana in the fourth quarter worth $22,507,000. Two Sigma Investments LP increased its stake in Asana by 288.1% during the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock valued at $28,481,000 after purchasing an additional 1,043,047 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after purchasing an additional 937,726 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Asana during the fourth quarter worth $11,781,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Trading Up 0.1 %

Shares of ASAN opened at $19.23 on Monday. The stock’s fifty day simple moving average is $20.98 and its 200 day simple moving average is $16.62. Asana has a twelve month low of $11.05 and a twelve month 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 firm has a market capitalization of $4.40 billion, a P/E ratio of -17.17 and a beta of 1.11.

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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