Asana (NYSE:ASAN) Price Target Cut to $13.00 by Analysts at Robert W. Baird

Asana (NYSE:ASAN) had its price target reduced by Robert W. Baird from $23.00 to $13.00 in a report published on Tuesday,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

A number of other research firms have also recently weighed in on ASAN. JMP Securities upped their price objective on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research report on Friday, December 6th. Jefferies Financial Group cut their price objective on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday. Royal Bank of Canada restated an “underperform” rating and issued a $10.00 target price on shares of Asana in a report on Friday, December 6th. Citigroup increased their target price on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Finally, DA Davidson boosted their price target on shares of Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.07.

Asana Stock Performance

Shares of NYSE:ASAN opened at $12.64 on Tuesday. The firm has a market capitalization of $2.89 billion, a PE ratio of -11.28 and a beta of 1.13. Asana has a 12 month low of $11.05 and a 12 month high of $27.77. 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 business has a 50-day moving average of $20.40 and a two-hundred day moving average of $16.86.

Insider Transactions at Asana

In other Asana news, Director Justin Rosenstein sold 200,000 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $21.67, for a total value of $4,334,000.00. Following the transaction, the director now owns 1,847,309 shares of the company’s stock, valued at approximately $40,031,186.03. The trade was a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Anne Raimondi sold 27,233 shares of the firm’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 completion of 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 723,300 shares of company stock worth $15,161,068. Insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ASAN. GSA Capital Partners LLP acquired a new stake in shares of Asana during the 3rd quarter worth approximately $497,000. MQS Management LLC acquired a new position in Asana in the 3rd quarter worth $141,000. KBC Group NV boosted its position in Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after acquiring an additional 1,211 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Asana in the third quarter valued at about $43,000. Finally, Meeder Asset Management Inc. acquired a new stake in Asana in the third quarter valued at $603,000. 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.