Asana, Inc. (NYSE:ASAN) Given Consensus Rating of "Hold" by Brokerages

Asana, Inc. (NYSE:ASAN - Get Free Report) has been given an average recommendation of "Hold" by the fifteen analysts that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $15.53.

Several research analysts have recently commented on ASAN shares. JMP Securities set a $22.00 price target on shares of Asana in a report on Tuesday, March 11th. UBS Group decreased their price target on shares of Asana from $18.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Citigroup lifted their price target on shares of Asana from $16.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, January 16th. Robert W. Baird decreased their price target on shares of Asana from $23.00 to $13.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Finally, Bank of America cut their price objective on shares of Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, March 11th.

Insiders Place Their Bets

In related news, Director Justin Rosenstein sold 150,000 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $19.76, for a total value of $2,964,000.00. Following the sale, the director now directly owns 1,097,309 shares in the company, valued at $21,682,825.84. The trade was a 12.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dustin A. Moskovitz bought 50,000 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was acquired at an average price of $15.84 per share, for a total transaction of $792,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 51,398,436 shares in the company, valued at approximately $814,151,226.24. This represents a 0.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 2,074,507 shares of company stock worth $30,025,743 and have sold 193,775 shares worth $3,549,663. 61.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Asana

A number of large investors have recently made changes to their positions in the company. Voya Investment Management LLC grew its position in Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after purchasing an additional 937,726 shares in the last quarter. Vanguard Group Inc. raised its stake in Asana by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock valued at $155,261,000 after purchasing an additional 475,100 shares during the last quarter. Voloridge Investment Management LLC raised its stake in shares of Asana by 25.6% in the 4th quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock valued at $43,574,000 after buying an additional 438,057 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Asana in the 4th quarter valued at $38,966,000. Finally, First Trust Advisors LP grew its holdings in shares of Asana by 17.6% in the 4th quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock worth $35,350,000 after purchasing an additional 261,298 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company's stock.

Asana Stock Up 0.2%

ASAN stock traded up $0.05 during mid-day trading on Friday, hitting $18.15. 1,652,766 shares of the company were exchanged, compared to its average volume of 2,745,940. The company has a market capitalization of $4.23 billion, a PE ratio of -16.21 and a beta of 1.21. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana has a twelve month low of $11.05 and a twelve month high of $27.77. The firm has a fifty day simple moving average of $15.30 and a 200 day simple moving average of $17.80.

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.