Citigroup Boosts Asana (NYSE:ASAN) Price Target to $20.00

Asana (NYSE:ASAN) had its price target hoisted by investment analysts at Citigroup from $16.00 to $20.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential upside of 3.07% from the stock’s current price.

Several other analysts have also recently commented on the stock. DA Davidson raised their price target on shares of Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Piper Sandler raised shares of Asana from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $27.00 in a research note on Monday, January 6th. Oppenheimer upped their price target on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Morgan Stanley increased their price objective on Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada restated an “underperform” rating and issued a $10.00 target price on shares of Asana in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.73.

Asana Stock Down 2.1 %

Shares of Asana stock opened at $19.40 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana has a 1 year low of $11.05 and a 1 year high of $27.77. The stock has a 50-day moving average price of $18.98 and a 200 day moving average price of $15.00. The company has a market cap of $4.44 billion, a P/E ratio of -17.32 and a beta of 1.10.

Insiders Place Their Bets

In other news, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction that occurred on Friday, December 20th. The shares were 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 trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV lifted its position in Asana by 52.1% during the 3rd 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 last quarter. Quest Partners LLC bought a new position in shares of Asana in the third quarter worth about $43,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Asana by 139.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,673 shares of the company’s stock worth $93,000 after purchasing an additional 3,885 shares during the period. MQS Management LLC acquired a new position in shares of Asana during the 3rd quarter worth about $141,000. Finally, Paloma Partners Management Co bought a new stake in Asana during the 3rd quarter valued at approximately $143,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.