Asana (NYSE:ASAN) Price Target Raised to $16.00

Asana (NYSE:ASAN) had its target price raised by Jefferies Financial Group from $13.00 to $16.00 in a report released on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts also recently weighed in on ASAN. UBS Group reduced their price target on shares of Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective for the company in a research note on Friday. Piper Sandler boosted their target price on shares of Asana from $12.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday. Morgan Stanley dropped their price target on Asana from $19.00 to $15.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 20th. Finally, Robert W. Baird boosted their price objective on Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $16.53.

Asana Stock Performance

NYSE:ASAN opened at $22.19 on Friday. Asana has a twelve month low of $11.05 and a twelve month high of $22.54. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $13.37 and its 200 day simple moving average is $13.29. The firm has a market capitalization of $5.06 billion, a PE ratio of -19.81 and a beta of 1.22.

Insider Activity at Asana

In related news, insider Eleanor B. Lacey sold 9,308 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $111,602.92. Following the transaction, the insider now owns 375,310 shares in the company, valued at $4,499,966.90. The trade was a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Anne Raimondi sold 29,807 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the completion of the transaction, the chief operating officer now owns 761,088 shares in the company, valued at approximately $9,125,445.12. The trade was a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,092 shares of company stock worth $527,668 over the last quarter. Company insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

Institutional investors have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC acquired a new position in shares of Asana during the second quarter valued at about $3,050,000. Point72 Asset Management L.P. acquired a new position in shares of Asana during the second quarter valued at about $17,100,000. Marshall Wace LLP acquired a new position in shares of Asana during the second quarter valued at about $3,159,000. Intech Investment Management LLC acquired a new position in shares of Asana during the third quarter valued at about $456,000. Finally, Olympiad Research LP acquired a new position in shares of Asana during the third quarter valued at about $792,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

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.