Asana (NYSE:ASAN) Trading Up 12.4% – What’s Next?

Asana, Inc. (NYSE:ASAN)’s share price rose 12.4% during trading on Monday . The stock traded as high as $21.31 and last traded at $22.08. Approximately 1,017,883 shares traded hands during trading, a decline of 62% from the average daily volume of 2,668,694 shares. The stock had previously closed at $19.65.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley lifted their price objective on Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Jefferies Financial Group lifted their price target on shares of Asana from $16.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Oppenheimer raised their target price on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Asana in a research report on Friday, December 6th. Finally, Scotiabank increased their price target on Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.73.

Asana Stock Performance

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’s 50-day moving average price is $19.95 and its 200-day moving average price is $15.40.

Insider Activity

In related news, COO Anne Raimondi sold 27,233 shares of the firm’s 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 sale, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total value of $3,001,500.00. Following the completion of the transaction, the director now directly owns 2,047,309 shares in the company, valued at $40,966,653.09. This trade represents a 6.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

Several large investors have recently added to or reduced their stakes in ASAN. Savant Capital LLC purchased a new stake in shares of Asana in the 4th quarter worth $1,779,000. Empowered Funds LLC bought a new stake in shares of Asana in the fourth quarter valued at about $366,000. KBC Group NV lifted its stake in Asana by 58.8% in the fourth quarter. KBC Group NV now owns 5,612 shares of the company’s stock worth $114,000 after acquiring an additional 2,078 shares during the period. Blue Trust Inc. grew its holdings in Asana by 1,934.8% during the 4th quarter. Blue Trust Inc. now owns 21,081 shares of the company’s stock worth $427,000 after acquiring an additional 20,045 shares in the last quarter. Finally, Krilogy Financial LLC bought a new position in Asana during the 4th quarter worth about $280,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

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.