Asana (NYSE:ASAN) Price Target Raised to $22.00

Asana (NYSE:ASAN) had its price objective boosted by Oppenheimer from $20.00 to $22.00 in a research note issued to investors on Friday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other equities research analysts have also recently issued reports on ASAN. Robert W. Baird raised their target price on shares of Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday. Bank of America decreased their target price on shares of Asana from $18.00 to $16.00 and set a “buy” rating on the stock 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 target price on the stock in a research report on Friday. JMP Securities raised their price target on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday. Finally, Piper Sandler raised their price target on shares of Asana from $12.00 to $19.00 and gave the company a “neutral” rating in a report on Friday. Two investment 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. Based on data from MarketBeat, Asana currently has an average rating of “Hold” and a consensus price target of $16.53.

Asana Price Performance

ASAN opened at $22.19 on Friday. The company’s 50 day simple moving average is $13.37 and its 200 day simple moving average is $13.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.63. Asana has a 1 year low of $11.05 and a 1 year high of $22.54. The stock has a market capitalization of $5.06 billion, a PE ratio of -19.81 and a beta of 1.22.

Insider Activity

In other news, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eleanor B. Lacey sold 4,977 shares of Asana stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $58,678.83. Following the completion of the sale, the insider now owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,092 shares of company stock worth $527,668 over the last 90 days. Company insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock worth $21,605,000 after buying an additional 12,055 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Asana in the second quarter worth $17,100,000. Cubist Systematic Strategies LLC acquired a new position in Asana in the second quarter worth $5,169,000. Holocene Advisors LP boosted its holdings in Asana by 62.2% in the third quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock worth $3,537,000 after purchasing an additional 116,998 shares during the period. Finally, Marshall Wace LLP acquired a new position in Asana in the second quarter worth $3,159,000. Institutional investors own 26.21% of the company’s stock.

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.