Asana (NYSE:ASAN) Price Target Raised to $19.00

Asana (NYSE:ASAN) had its price objective increased by Robert W. Baird from $13.00 to $19.00 in a research report sent to investors on Friday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Several 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 for the company in a research report on Wednesday, September 4th. JMP Securities reduced their price target on shares of Asana from $27.00 to $21.00 and set a “market outperform” rating for the company in a research report on Wednesday, September 4th. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target for the company in a research report on Friday. JPMorgan Chase & Co. reduced their price target on shares of Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research report on Wednesday, September 4th. Finally, Oppenheimer reduced their price target on shares of Asana from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $16.53.

Asana Price Performance

Shares of NYSE ASAN opened at $22.19 on Friday. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $22.54. The company has a 50 day simple moving average of $13.37 and a two-hundred day simple moving average of $13.29. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of -19.81 and a beta of 1.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.63.

Insider Buying and Selling

In other news, COO Anne Raimondi sold 29,807 shares of Asana 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 transaction, the chief operating officer now owns 761,088 shares in the company, valued at $9,125,445.12. This trade represents a 3.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eleanor B. Lacey sold 9,308 shares of Asana stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $111,602.92. Following the transaction, the insider now owns 375,310 shares in the company, valued at $4,499,966.90. This represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,092 shares of company stock worth $527,668. 63.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ASAN. Price T Rowe Associates Inc. MD raised its position in shares of Asana by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,368 shares of the company’s stock valued at $827,000 after purchasing an additional 3,033 shares during the period. Diversified Trust Co raised its position in shares of Asana by 2.6% during the 2nd quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock valued at $489,000 after purchasing an additional 900 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Asana during the 2nd quarter valued at $803,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Asana by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock valued at $238,000 after purchasing an additional 1,769 shares during the period. Finally, Versor Investments LP raised its position in shares of Asana by 48.3% during the 2nd quarter. Versor Investments LP now owns 23,200 shares of the company’s stock valued at $325,000 after purchasing an additional 7,557 shares during the period. Hedge funds and other institutional investors 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.