Asana (NYSE:ASAN) Given New $13.00 Price Target at JPMorgan Chase & Co.

Asana (NYSE:ASAN) had its target price reduced by JPMorgan Chase & Co. from $15.00 to $13.00 in a research note released on Tuesday,Benzinga reports. They currently have an underweight rating on the stock.

Other research analysts have also recently issued reports about the company. UBS Group decreased their price objective on Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday. Bank of America decreased their price target on Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday. JMP Securities upped their price target on Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. Citigroup upped their price target on Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $10.00 price target on shares of Asana in a research note on Friday, December 6th. 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. Based on data from MarketBeat, Asana currently has a consensus rating of “Hold” and a consensus price target of $16.07.

Asana Price Performance

NYSE:ASAN opened at $12.64 on Tuesday. The firm has a market cap of $2.89 billion, a P/E ratio of -11.28 and a beta of 1.13. The stock has a 50 day moving average of $20.40 and a two-hundred day moving average of $16.86. Asana has a 12 month low of $11.05 and a 12 month high of $27.77. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17.

Insider Activity at Asana

In other news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction dated 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 in the company, valued at approximately $15,931,992.05. This represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justin Rosenstein sold 196,067 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $21.78, for a total transaction of $4,270,339.26. Following the sale, the director now owns 1,651,242 shares of the company’s stock, valued at $35,964,050.76. This trade represents a 10.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 723,300 shares of company stock valued at $15,161,068 over the last quarter. 63.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Asana

A number of hedge funds have recently added to or reduced their stakes in ASAN. Quarry LP purchased a new position in Asana in the fourth quarter valued at about $29,000. KBC Group NV increased its holdings in Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after buying an additional 1,211 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Asana during the 3rd quarter worth approximately $43,000. Bogart Wealth LLC purchased a new position in shares of Asana during the 4th quarter worth approximately $61,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Asana during the 4th quarter worth approximately $82,000. Institutional investors and hedge funds 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.