Asana (NYSE:ASAN) Given New $13.00 Price Target at Robert W. Baird

Asana (NYSE:ASAN) had its price objective cut by Robert W. Baird from $23.00 to $13.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada reissued an “underperform” rating and set a $10.00 price target on shares of Asana in a report on Friday, December 6th. Morgan Stanley boosted their price objective on shares of Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. raised their target price on shares of Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. JMP Securities boosted their price target on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. Finally, Jefferies Financial Group cut their price target on shares of Asana from $19.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $16.07.

Asana Stock Performance

Shares of Asana stock opened at $12.64 on Tuesday. The firm’s 50 day moving average is $20.40 and its two-hundred day moving average is $16.86. Asana has a 52 week low of $11.05 and a 52 week high of $27.77. 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 firm has a market capitalization of $2.89 billion, a P/E ratio of -11.28 and a beta of 1.13.

Insider Activity at Asana

In other 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 value of $591,228.43. Following the sale, the chief operating officer now directly owns 733,855 shares in the company, valued at $15,931,992.05. This represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justin Rosenstein sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the transaction, the director now directly owns 2,047,309 shares of the company’s stock, valued at approximately $40,966,653.09. This trade represents a 6.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 723,300 shares of company stock valued at $15,161,068 in the last ninety days. Corporate insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

A number of large investors have recently bought and sold shares of the stock. Voya Investment Management LLC grew its holdings in shares of Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after buying an additional 937,726 shares in the last quarter. Voloridge Investment Management LLC grew its stake in Asana by 25.6% in the 4th quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock worth $43,574,000 after acquiring an additional 438,057 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Asana in the 4th quarter worth approximately $38,966,000. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 12,055 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Asana by 17.6% during the 4th quarter. First Trust Advisors LP now owns 1,743,981 shares of the company’s stock worth $35,350,000 after purchasing an additional 261,298 shares during the period. 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.