Asana (NYSE:ASAN) Price Target Raised to $18.00

Asana (NYSE:ASAN) had its target price boosted by Morgan Stanley from $14.00 to $18.00 in a research note published on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price objective on Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday. Robert W. Baird lifted their price target on Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a report on Friday. Oppenheimer lifted their price target on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday. UBS Group lowered their price target on Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Finally, Piper Sandler lifted their price target on Asana from $12.00 to $19.00 and gave the company a “neutral” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $16.53.

Asana Trading Up 43.5 %

Asana stock opened at $22.19 on Friday. The stock has a market cap of $5.06 billion, a PE ratio of -19.81 and a beta of 1.22. The stock has a 50-day moving average price of $13.37 and a 200 day moving average price of $13.29. Asana has a 52 week low of $11.05 and a 52 week high of $22.54. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14.

Insider Buying and Selling

In related news, insider Eleanor B. Lacey sold 4,977 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $58,678.83. Following the transaction, the insider now directly owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Anne Raimondi sold 29,807 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $357,385.93. Following the transaction, the chief operating officer now directly owns 761,088 shares in the company, valued at $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. In the last ninety days, insiders have sold 44,092 shares of company stock valued at $527,668. Corporate insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

A number of institutional investors have recently made changes to their positions in ASAN. Headlands Technologies LLC raised its position in shares of 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 purchasing an additional 2,220 shares in the last quarter. KBC Group NV raised its position in shares of Asana by 52.1% in the 3rd 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 acquired a new position in shares of Asana in the 3rd quarter valued at approximately $43,000. Redwood Wealth Management Group LLC acquired a new position in shares of Asana in the 2nd quarter valued at approximately $65,000. Finally, Daiwa Securities Group Inc. raised its position in shares of Asana by 26.0% in the 2nd 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. 26.21% of the stock is owned by institutional investors and hedge funds.

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.