Asana (NYSE:ASAN) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Asana (NYSE:ASAN) had its price objective raised by research analysts at Jefferies Financial Group from $16.00 to $19.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s price target would indicate a potential downside of 6.82% from the company’s current price.

Several other research firms have also recently commented on ASAN. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 target price on the stock in a research report on Friday, December 6th. JMP Securities lifted their price target on Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Scotiabank lifted their target price on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $10.00 price target on shares of Asana in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.27.

Asana Stock Performance

Shares of ASAN stock opened at $20.39 on Monday. 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 firm has a 50-day moving average of $18.09 and a 200-day moving average of $14.72. Asana has a one year low of $11.05 and a one year high of $27.77. The company has a market cap of $4.66 billion, a P/E ratio of -18.21 and a beta of 1.10.

Insider Buying and Selling

In other Asana news, COO Anne Raimondi sold 27,233 shares of the business’s stock in a transaction on 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 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 legal filing with the SEC, which is available through this link. 63.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Asana

Several hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new stake in Asana during the 2nd quarter worth about $17,100,000. JPMorgan Chase & Co. increased its position in shares of Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after buying an additional 427,576 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Asana in the second quarter worth about $5,169,000. Marshall Wace LLP bought a new position in shares of Asana in the second quarter valued at approximately $3,159,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Asana during the second quarter valued at approximately $3,050,000. 26.21% of the stock is currently 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.