Asana (NYSE:ASAN) Price Target Lowered to $15.00 at Jefferies Financial Group

Asana (NYSE:ASAN) had its price objective lowered by Jefferies Financial Group from $19.00 to $15.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer increased their target price on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Bank of America reduced their price target on Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday. Scotiabank raised their price objective on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, December 6th. Robert W. Baird upped their target price on Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, DA Davidson increased their price target on Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Asana currently has an average rating of “Hold” and a consensus target price of $16.07.

Asana Stock Performance

Shares of ASAN stock opened at $12.64 on Tuesday. Asana has a 52-week low of $11.05 and a 52-week high of $27.77. The company’s 50 day moving average is $20.40 and its 200 day moving average is $16.86. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of -11.28 and a beta of 1.13. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17.

Insider Buying and Selling

In other Asana news, COO Anne Raimondi sold 27,233 shares of the business’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 in the company, valued at approximately $15,931,992.05. The trade was a 3.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justin Rosenstein sold 150,000 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $19.76, for a total transaction of $2,964,000.00. Following the completion of the transaction, the director now directly owns 1,097,309 shares of the company’s stock, valued at approximately $21,682,825.84. This trade represents a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 723,300 shares of company stock worth $15,161,068 in the last quarter. 63.97% of the stock is owned by insiders.

Institutional Trading of Asana

A number of institutional investors have recently bought and sold shares of the company. Voya Investment Management LLC increased its stake in shares of Asana by 8.1% during the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after purchasing an additional 937,726 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in Asana by 25.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock valued at $43,574,000 after purchasing an additional 438,057 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Asana in the 4th quarter worth $38,966,000. Geode Capital Management LLC increased its position in Asana by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock worth $21,605,000 after purchasing an additional 12,055 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Asana by 17.6% during the 4th quarter. First Trust Advisors LP now owns 1,743,981 shares of the company’s stock valued at $35,350,000 after acquiring an additional 261,298 shares in the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

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.