Asana (NYSE:ASAN) Price Target Lowered to $25.00 at Bank of America

Asana (NYSE:ASAN) had its price target trimmed by Bank of America from $30.00 to $25.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

ASAN has been the subject of a number of other research reports. Jefferies Financial Group raised their price target on Asana from $16.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 price objective on shares of Asana in a research report on Friday, December 6th. JMP Securities lifted their target price on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, December 6th. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective for the company in a research report on Friday, December 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $27.00 target price on shares of Asana in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.07.

Asana Stock Performance

NYSE:ASAN opened at $12.64 on Tuesday. The firm has a market cap of $2.89 billion, a PE ratio of -11.28 and a beta of 1.13. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The business has a 50 day moving average price of $20.40 and a 200-day moving average price of $16.86.

Insiders Place Their Bets

In other news, Director Justin Rosenstein sold 200,000 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $21.67, for a total transaction of $4,334,000.00. Following the transaction, the director now owns 1,847,309 shares of the company’s stock, valued at approximately $40,031,186.03. This represents a 9.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Anne Raimondi sold 27,233 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.71, for a total transaction of $591,228.43. Following the transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at $15,931,992.05. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 723,300 shares of company stock valued at $15,161,068 over the last ninety days. 63.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Asana

Several hedge funds have recently modified their holdings of the business. Vise Technologies Inc. grew its stake in Asana by 6.5% during the 4th quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock worth $320,000 after buying an additional 959 shares during the last quarter. KBC Group NV increased its stake in shares of Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after acquiring an additional 1,211 shares during the period. Quarry LP acquired a new position in shares of Asana in the 4th quarter valued at about $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Asana by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,218 shares of the company’s stock worth $937,000 after purchasing an additional 2,538 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in 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 buying an additional 2,668 shares in the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.