UBS Group Issues Pessimistic Forecast for Asana (NYSE:ASAN) Stock Price

Asana (NYSE:ASAN) had its price objective lowered by UBS Group from $18.00 to $14.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential upside of 4.13% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Oppenheimer increased their price objective on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. DA Davidson increased their price objective on Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Royal Bank of Canada reissued an “underperform” rating and issued a $10.00 price objective on shares of Asana in a research report on Friday, December 6th. Finally, Scotiabank increased their price objective on Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.87.

Asana Stock Up 6.4 %

Shares of Asana stock opened at $13.45 on Tuesday. The stock has a market capitalization of $3.08 billion, a P/E ratio of -12.00 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. The stock has a 50 day moving average price of $20.26 and a two-hundred day moving average price of $16.84. Asana has a 12-month low of $11.05 and a 12-month high of $27.77.

Insider Activity at Asana

In other Asana news, Director Justin Rosenstein sold 150,000 shares of the stock in a transaction on Monday, February 24th. The stock was 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 in the company, valued at $21,682,825.84. This represents a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value 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. This represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 723,300 shares of company stock worth $15,161,068. 63.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ASAN. Arrowstreet Capital Limited Partnership acquired a new position in Asana during the fourth quarter worth $38,966,000. Paradice Investment Management LLC acquired a new stake in shares of Asana in the fourth quarter valued at $22,507,000. Two Sigma Investments LP increased its stake in shares of Asana by 288.1% in the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock valued at $28,481,000 after buying an additional 1,043,047 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock valued at $254,166,000 after buying an additional 937,726 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Asana in the fourth quarter valued at $11,781,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.