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

Asana, Inc. (NYSE:ASAN - Get Free Report) has earned a consensus rating of "Hold" from the fifteen analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $15.53.

Several brokerages have commented on ASAN. Citigroup boosted their target price on Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Morgan Stanley cut their target price on Asana from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. DA Davidson reduced their target price on Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Jefferies Financial Group lowered their price target on shares of Asana from $19.00 to $15.00 and set a "hold" rating on the stock in a research report on Tuesday, March 11th. Finally, Piper Sandler cut their price objective on Asana from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd.

Insider Buying and Selling at Asana

In related news, CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $12.91 per share, for a total transaction of $2,904,750.00. Following the completion of the purchase, the chief executive officer now directly owns 48,123,436 shares of the company's stock, valued at $621,273,558.76. The trade was a 0.47% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Anne Raimondi sold 18,775 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.03, for a total transaction of $263,413.25. Following the sale, the chief operating officer now directly owns 716,580 shares of the company's stock, valued at $10,053,617.40. The trade was a 2.55% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have bought 2,074,507 shares of company stock valued at $30,025,743 and have sold 193,775 shares valued at $3,549,663. Insiders own 63.97% of the company's stock.

Institutional Trading of Asana

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company's stock worth $9,650,000 after buying an additional 427,576 shares during the last quarter. Virtu Financial LLC purchased a new stake in Asana in the 4th quarter valued at about $2,349,000. Meeder Asset Management Inc. increased its stake in Asana by 49.2% during the 4th quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company's stock worth $1,572,000 after buying an additional 25,564 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Asana by 7.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company's stock valued at $14,083,000 after purchasing an additional 48,831 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in shares of Asana in the 4th quarter valued at $762,000. Institutional investors own 26.21% of the company's stock.

Asana Stock Performance

Shares of NYSE ASAN traded up $0.27 during midday trading on Friday, hitting $18.22. 2,496,874 shares of the company's stock were exchanged, compared to its average volume of 2,747,613. 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 company's 50 day moving average price is $15.30 and its 200 day moving average price is $17.80. Asana has a 12 month low of $11.05 and a 12 month high of $27.77. The firm has a market capitalization of $4.25 billion, a PE ratio of -16.27 and a beta of 1.21.

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.