Asana’s (ASAN) “Underperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their underperform rating on shares of Asana (NYSE:ASAN) in a report issued on Friday,Benzinga reports. The brokerage currently has a $10.00 target price on the stock.

ASAN has been the topic of several other reports. Bank of America decreased their price objective on shares of Asana from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Oppenheimer decreased their price objective on shares of Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Scotiabank started coverage on shares of Asana in a report on Monday, November 18th. They set a “sector perform” rating and a $15.00 price objective on the stock. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective on the stock in a report on Friday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.53.

Asana Stock Performance

Shares of NYSE ASAN opened at $22.19 on Friday. The company’s fifty day moving average price is $13.37 and its 200 day moving average price is $13.29. Asana has a 1 year low of $11.05 and a 1 year high of $22.54. The company has a market capitalization of $5.06 billion, a PE 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 related news, COO Anne Raimondi sold 29,807 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 761,088 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, insider Eleanor B. Lacey sold 9,308 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $111,602.92. Following the sale, the insider now owns 375,310 shares of the company’s stock, valued at approximately $4,499,966.90. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,092 shares of company stock worth $527,668. Insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

A number of institutional investors have recently made changes to their positions in the stock. Neo Ivy Capital Management increased its position in shares of Asana by 195.1% during the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock valued at $1,964,000 after acquiring an additional 112,038 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Asana by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock valued at $21,605,000 after acquiring an additional 12,055 shares during the last quarter. Barclays PLC increased its position in shares of Asana by 103.0% during the third quarter. Barclays PLC now owns 165,753 shares of the company’s stock valued at $1,920,000 after acquiring an additional 84,114 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Asana during the third quarter valued at about $538,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Asana during the third quarter valued at about $189,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.