Asana (NYSE:ASAN) Stock Rating Upgraded by Piper Sandler

Asana (NYSE:ASAN) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday,Benzinga reports. The firm currently has a $27.00 price target on the stock, up from their previous price target of $19.00. Piper Sandler’s price objective suggests a potential upside of 31.00% from the stock’s previous close.

Other research analysts have also issued reports about the company. Scotiabank raised their price target on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, December 6th. Morgan Stanley boosted their target price on Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Royal Bank of Canada reiterated an “underperform” rating and issued a $10.00 price target on shares of Asana in a research report on Friday, December 6th. Robert W. Baird upped their target price on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, DA Davidson lifted their price target on shares of Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.07.

Asana Trading Up 3.8 %

Shares of NYSE ASAN opened at $20.61 on Monday. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The firm has a market capitalization of $4.71 billion, a P/E ratio of -18.40 and a beta of 1.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The company’s 50 day simple moving average is $17.72 and its 200 day simple moving average is $14.60.

Insider Buying and Selling at Asana

In other Asana news, COO Anne Raimondi sold 27,233 shares of the business’s 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 sale, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at $15,931,992.05. The trade was a 3.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

A number of hedge funds and other institutional investors have recently modified their holdings of ASAN. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Asana by 11.6% during 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 last quarter. Rhumbline Advisers boosted its holdings in shares of Asana by 2.2% in the 2nd quarter. Rhumbline Advisers now owns 115,958 shares of the company’s stock valued at $1,622,000 after buying an additional 2,464 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Asana by 3.6% in the second quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock valued at $327,000 after buying an additional 803 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Asana by 26.0% during the second 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. Finally, Headlands Technologies LLC raised its position in Asana by 327.9% during the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after acquiring an additional 2,220 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.