Asana (NYSE:ASAN) Price Target Lowered to $18.00 at Piper Sandler

Asana (NYSE:ASAN) had its target price reduced by Piper Sandler from $27.00 to $18.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently weighed in on ASAN. DA Davidson boosted their price objective on Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. JPMorgan Chase & Co. boosted their price target on shares of Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. JMP Securities increased their price objective 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. Bank of America lowered their target price on shares of Asana from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Scotiabank increased their price target on Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Asana currently has a consensus rating of “Hold” and a consensus price target of $16.07.

Asana Trading Down 24.3 %

ASAN opened at $12.64 on Tuesday. Asana has a 1-year low of $11.05 and a 1-year high of $27.77. The firm has a 50-day moving average price of $20.40 and a two-hundred day moving average price of $16.86. The stock has a market capitalization of $2.89 billion, a PE ratio of -11.28 and a beta of 1.13. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17.

Insider Activity

In other news, Director Justin Rosenstein sold 150,000 shares of the firm’s stock in a transaction that occurred on 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 $21,682,825.84. This trade represents a 12.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Anne Raimondi sold 27,233 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.71, for a total transaction of $591,228.43. Following the transaction, the chief operating officer now owns 733,855 shares of the company’s stock, valued at $15,931,992.05. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 723,300 shares of company stock worth $15,161,068 over the last quarter. 63.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Brooklyn FI LLC acquired a new stake in Asana in the 4th quarter valued at about $8,138,000. Vise Technologies Inc. lifted 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 buying an additional 959 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Asana by 12.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 226,025 shares of the company’s stock worth $4,582,000 after acquiring an additional 25,607 shares during the period. Voloridge Investment Management LLC increased its holdings in shares of Asana by 25.6% during the 4th quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock worth $43,574,000 after acquiring an additional 438,057 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in Asana in the 4th quarter valued at $1,745,000. 26.21% of the stock is 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.