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

Asana (NYSE:ASAN - Get Free Report) had its price target decreased by Robert W. Baird from $23.00 to $13.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Robert W. Baird's target price would suggest a potential downside of 22.11% from the stock's previous close.

Several other research analysts have also commented on ASAN. Oppenheimer boosted their price objective on Asana from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Morgan Stanley increased their price target on shares of Asana from $14.00 to $18.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on shares of Asana from $13.00 to $15.00 and gave the stock an "underweight" rating in a report on Friday, December 6th. Bank of America cut their target price on shares of Asana from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Piper Sandler restated an "overweight" rating and set a $27.00 price target on shares of Asana in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $17.07.

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Asana Stock Performance

NYSE ASAN opened at $16.69 on Tuesday. The company's 50 day simple moving average is $20.55 and its two-hundred day simple moving average is $16.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. Asana has a 1 year low of $11.05 and a 1 year high of $27.77. The stock has a market capitalization of $3.82 billion, a PE ratio of -14.90 and a beta of 1.13.

Insider Activity at Asana

In related news, COO Anne Raimondi sold 27,233 shares of the company's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.71, for a total value 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. This represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Justin Rosenstein sold 150,000 shares of the firm's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total value of $3,001,500.00. Following the transaction, the director now directly owns 2,047,309 shares of the company's stock, valued at $40,966,653.09. This represents a 6.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 723,300 shares of company stock worth $15,161,068 over the last quarter. Corporate insiders own 63.97% of the company's stock.

Institutional Trading of Asana

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP bought a new position in shares of Asana during the fourth quarter valued at approximately $29,000. KBC Group NV raised its stake in Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company's stock valued at $41,000 after buying an additional 1,211 shares during the last quarter. Quest Partners LLC bought a new stake in Asana in the third quarter worth $43,000. Bogart Wealth LLC purchased a new stake in shares of Asana in the fourth quarter worth $61,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Asana during the fourth quarter valued at $82,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Asana Company Profile

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.

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