Jefferies Financial Group Issues Positive Forecast for Asana (NYSE:ASAN) Stock Price

Asana (NYSE:ASANFree Report) had its target price increased by Jefferies Financial Group from $16.00 to $19.00 in a report issued on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley increased their price objective on shares of Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Robert W. Baird raised their price objective on Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Royal Bank of Canada reiterated an “underperform” rating and issued a $10.00 target price on shares of Asana in a report on Friday, December 6th. Finally, Piper Sandler upgraded shares of Asana from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $19.00 to $27.00 in a research note on Monday. Two research 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 presently has a consensus rating of “Hold” and an average target price of $17.27.

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Asana Stock Performance

NYSE:ASAN opened at $21.83 on Monday. The firm has a market capitalization of $4.99 billion, a P/E ratio of -19.49 and a beta of 1.10. Asana has a twelve month low of $11.05 and a twelve month high of $27.77. The company has a fifty day moving average of $17.92 and a 200-day moving average of $14.67. 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 63.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Asana

Several hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System lifted its holdings in Asana by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock worth $327,000 after purchasing an additional 803 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Asana by 26.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after buying an additional 1,028 shares in the last quarter. KBC Group NV lifted its holdings 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 buying an additional 1,211 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Asana by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock valued at $238,000 after acquiring an additional 1,769 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Asana by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock valued at $687,000 after acquiring an additional 1,888 shares in the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

About Asana

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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.

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Analyst Recommendations for Asana (NYSE:ASAN)

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