Asana (NYSE:ASAN) Price Target Raised to $15.00

Asana (NYSE:ASAN) had its price objective hoisted by JPMorgan Chase & Co. from $13.00 to $15.00 in a research note released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

ASAN has been the topic of several other research reports. Robert W. Baird increased their target price on Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday. JMP Securities increased their target price on Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday. KeyCorp raised Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 target price on the stock in a research note on Friday. UBS Group cut their target price on Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Finally, Scotiabank assumed coverage on Asana in a research note on Monday, November 18th. They issued a “sector perform” rating and a $15.00 target price on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Asana has a consensus rating of “Hold” and an average target price of $16.53.

Asana Trading Up 43.5 %

NYSE:ASAN opened at $22.19 on Friday. Asana has a 1-year low of $11.05 and a 1-year high of $22.54. The business’s 50-day moving average price is $13.37 and its two-hundred day moving average price is $13.29. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of -19.81 and a beta of 1.22.

Insider Activity at Asana

In related news, insider Eleanor B. Lacey sold 4,977 shares of Asana stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total value of $58,678.83. Following the sale, the insider now owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $357,385.93. Following the completion of the sale, the chief operating officer now directly owns 761,088 shares in the company, valued at approximately $9,125,445.12. This represents a 3.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,092 shares of company stock valued at $527,668. 63.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Asana

A number of hedge funds and other institutional investors have recently bought and sold shares of ASAN. Headlands Technologies LLC raised its position in Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after buying an additional 2,220 shares during the last quarter. KBC Group NV grew its stake 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 in the last quarter. Quest Partners LLC bought a new position in Asana in the third quarter valued at approximately $43,000. Redwood Wealth Management Group LLC bought a new position in Asana in the second quarter valued at approximately $65,000. Finally, Daiwa Securities Group Inc. grew its stake in Asana by 26.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after purchasing an additional 1,028 shares in the last quarter. 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.