Asana (NYSE:ASAN) Given New $14.00 Price Target at UBS Group

Asana (NYSE:ASAN) had its target price cut by UBS Group from $18.00 to $14.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also recently weighed in on the stock. Oppenheimer upped their price target on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Scotiabank upped their price target on shares of Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. Piper Sandler reduced their price target on shares of Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday. Jefferies Financial Group reduced their price target on shares of Asana from $19.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday. Finally, JMP Securities upped 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, December 6th. Two equities research 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.com, Asana has a consensus rating of “Hold” and a consensus target price of $16.07.

Asana Stock Down 24.3 %

Asana stock opened at $12.64 on Tuesday. The stock has a market capitalization of $2.89 billion, a PE ratio of -11.28 and a beta of 1.13. Asana has a twelve month low of $11.05 and a twelve month high of $27.77. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $20.40 and a 200-day moving average of $16.86.

Insiders Place Their Bets

In other Asana news, COO Anne Raimondi sold 27,233 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.71, for a total transaction of $591,228.43. Following 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 represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 723,300 shares of company stock valued at $15,161,068. 63.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Asana

Several large investors have recently modified their holdings of the stock. Vise Technologies Inc. raised its position in shares of Asana by 6.5% in the fourth quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock valued at $320,000 after purchasing an additional 959 shares during the period. KBC Group NV raised its position in shares of Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after purchasing an additional 1,211 shares during the period. Quarry LP bought a new position in shares of Asana in the fourth quarter valued at about $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Asana by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,218 shares of the company’s stock valued at $937,000 after purchasing an additional 2,538 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Asana by 5.7% in the fourth quarter. MetLife Investment Management LLC now owns 49,483 shares of the company’s stock valued at $1,003,000 after purchasing an additional 2,668 shares during the period. 26.21% of the stock is owned by institutional investors.

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.