Asana (NYSE:ASAN) Raised to “Sector Weight” at KeyCorp

Asana (NYSE:ASAN) was upgraded by equities researchers at KeyCorp from an “underweight” rating to a “sector weight” rating in a report issued on Friday, Marketbeat.com reports. The brokerage presently has a $10.00 price objective on the stock. KeyCorp’s price target would suggest a potential downside of 54.93% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Bank of America dropped their price target on shares of Asana from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Oppenheimer dropped their price target on shares of Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. dropped their price target on shares of Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday, September 4th. Morgan Stanley dropped their price target on shares of Asana from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 20th. Finally, Robert W. Baird lowered their target price on shares of Asana from $20.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Asana currently has an average rating of “Hold” and an average price target of $16.53.

Asana Trading Up 43.5 %

NYSE ASAN opened at $22.19 on Friday. Asana has a 1-year low of $11.05 and a 1-year high of $22.54. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $5.06 billion, a PE ratio of -19.81 and a beta of 1.22. The firm’s fifty day simple moving average is $13.37 and its 200-day simple moving average is $13.30.

Insider Buying and Selling at Asana

In other Asana news, insider Eleanor B. Lacey sold 9,308 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $111,602.92. Following the completion of the sale, the insider now directly owns 375,310 shares in the company, valued at $4,499,966.90. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the sale, the chief operating officer now owns 761,088 shares of the company’s stock, valued at $9,125,445.12. This trade represents a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,092 shares of company stock worth $527,668 over the last ninety days. Company insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

Several hedge funds have recently made changes to their positions in ASAN. Point72 Asset Management L.P. bought a new stake in shares of Asana in the second quarter valued at about $17,100,000. Cubist Systematic Strategies LLC acquired a new position in Asana in the second quarter worth about $5,169,000. Marshall Wace LLP acquired a new position in Asana in the second quarter worth about $3,159,000. Susquehanna Fundamental Investments LLC acquired a new position in Asana in the second quarter worth about $3,050,000. Finally, Holocene Advisors LP raised its position in Asana by 62.2% in the third quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock worth $3,537,000 after purchasing an additional 116,998 shares in the last quarter. 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.