Asana (NYSE:ASAN) Rating Increased to Overweight at Piper Sandler

Piper Sandler upgraded shares of Asana (NYSE:ASAN) from a neutral rating to an overweight rating in a research note issued to investors on Monday,Benzinga reports. They currently have $27.00 price target on the stock, up from their previous price target of $19.00.

Other equities research analysts have also recently issued research reports about the company. DA Davidson boosted their target price on Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 target price for the company in a report on Friday, December 6th. Oppenheimer increased their price target on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Royal Bank of Canada reiterated an “underperform” rating and set a $10.00 target price on shares of Asana in a research report on Friday, December 6th. Finally, JMP Securities increased their price target 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.27.

Asana Trading Up 5.9 %

Shares of NYSE ASAN opened at $21.83 on Monday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $4.99 billion, a PE 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 stock has a fifty day simple moving average of $17.92 and a 200-day simple moving average of $14.67.

Insider Buying and Selling

In related news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. This represents a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Asana by 105.6% in the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after acquiring an additional 427,576 shares in the last quarter. Neo Ivy Capital Management lifted its stake in Asana by 195.1% during the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock worth $1,964,000 after purchasing an additional 112,038 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Asana by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock valued at $21,605,000 after buying an additional 12,055 shares during the period. Barclays PLC grew its holdings in shares of Asana by 103.0% during the third quarter. Barclays PLC now owns 165,753 shares of the company’s stock valued at $1,920,000 after purchasing an additional 84,114 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Asana during the 3rd quarter worth $538,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

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.