Asana (NYSE:ASAN) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Asana (NYSE:ASAN) had its price objective boosted by Robert W. Baird from $13.00 to $19.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price target points to a potential downside of 14.38% from the stock’s previous close.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, September 4th. Oppenheimer decreased their price objective on Asana from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Morgan Stanley cut their target price on shares of Asana from $19.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 20th. JMP Securities decreased their price target on shares of Asana from $27.00 to $21.00 and set a “market outperform” rating for the company in a research note on Wednesday, September 4th. Finally, Piper Sandler dropped their price objective on shares of Asana from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $16.53.

Asana Price Performance

Shares of ASAN opened at $22.19 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. Asana has a 1-year low of $11.05 and a 1-year high of $22.54. The stock has a market cap of $5.06 billion, a PE ratio of -19.81 and a beta of 1.22. The firm has a fifty day moving average price of $13.37 and a 200 day moving average price of $13.30.

Insider Activity at Asana

In other Asana news, insider Eleanor B. Lacey sold 9,308 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $111,602.92. Following the completion of the sale, the insider now owns 375,310 shares of the company’s stock, valued at approximately $4,499,966.90. This trade represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the transaction, the chief operating officer now directly owns 761,088 shares in the company, valued at approximately $9,125,445.12. This trade represents a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,092 shares of company stock worth $527,668 over the last three months. 63.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Asana

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC grew its holdings in shares of Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after acquiring an additional 2,220 shares during the period. KBC Group NV grew 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 purchasing an additional 1,211 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Asana in the third quarter valued at $43,000. Redwood Wealth Management Group LLC acquired a new position in shares of Asana during the 2nd quarter worth $65,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Asana by 26.0% during the 2nd 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 during the last quarter. 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.