Asana (NYSE:ASAN) Price Target Raised to $25.00

Asana (NYSE:ASAN) had its price target lifted by JMP Securities from $21.00 to $25.00 in a research note released on Friday,Benzinga reports. They currently have a market outperform rating on the stock.

Several other equities research analysts have also recently issued reports on ASAN. Morgan Stanley lowered their price objective on shares of Asana from $19.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 20th. Oppenheimer dropped their price objective on Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Bank of America decreased their target price on Asana from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. dropped their price target on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday, September 4th. Finally, Citigroup decreased their price objective on Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.53.

Asana Stock Performance

NYSE ASAN opened at $22.19 on Friday. The business’s 50 day moving average price is $13.37 and its 200-day moving average price is $13.29. The company has a market cap of $5.06 billion, a P/E ratio of -19.81 and a beta of 1.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.63. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $22.54.

Insider Activity at Asana

In other news, insider Eleanor B. Lacey sold 9,308 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $111,602.92. Following the sale, the insider now owns 375,310 shares in the company, valued at $4,499,966.90. This 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 is available through the SEC website. Also, COO Anne Raimondi sold 29,807 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the transaction, the chief operating officer now owns 761,088 shares of the company’s stock, valued at $9,125,445.12. This 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 valued at $527,668 in the last ninety days. Company insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

A number of hedge funds have recently added to or reduced their stakes in ASAN. Price T Rowe Associates Inc. MD raised its position in shares of Asana by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,368 shares of the company’s stock worth $827,000 after purchasing an additional 3,033 shares during the last quarter. Diversified Trust Co raised its position in Asana by 2.6% in the second quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock valued at $489,000 after purchasing an additional 900 shares during the period. Neo Ivy Capital Management acquired a new position in Asana during the 2nd quarter worth about $803,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Asana by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock valued at $238,000 after purchasing an additional 1,769 shares during the period. Finally, Versor Investments LP boosted its position in Asana by 48.3% in the 2nd quarter. Versor Investments LP now owns 23,200 shares of the company’s stock valued at $325,000 after buying an additional 7,557 shares during the period. 26.21% of the stock is owned by hedge funds and other institutional investors.

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.