Morgan Stanley Cuts Asana (NYSE:ASAN) Price Target to $15.00

Asana (NYSE:ASAN - Free Report) had its price target trimmed by Morgan Stanley from $18.00 to $15.00 in a research note released on Wednesday, Marketbeat reports. They currently have an equal weight rating on the stock.

Other research analysts also recently issued reports about the company. Bank of America lowered their price target on Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. JMP Securities raised their price target on shares of Asana from $21.00 to $25.00 and gave the company a "market outperform" rating in a report on Friday, December 6th. UBS Group reduced their price target on shares of Asana from $18.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Jefferies Financial Group dropped their target price on shares of Asana from $19.00 to $15.00 and set a "hold" rating on the stock in a report on Tuesday, March 11th. Finally, Scotiabank decreased their target price on shares of Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a research note on Tuesday, March 11th. Two investment 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, Asana currently has an average rating of "Hold" and a consensus price target of $15.87.

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Asana Stock Up 8.0 %

NYSE ASAN traded up $1.04 during mid-day trading on Wednesday, reaching $13.95. The stock had a trading volume of 4,729,237 shares, compared to its average volume of 2,553,020. The stock has a market cap of $3.19 billion, a PE ratio of -12.45 and a beta of 1.13. Asana has a 1 year low of $11.05 and a 1 year 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 company has a fifty day moving average price of $19.99 and a 200 day moving average price of $16.84.

Insider Buying and Selling

In related news, Director Justin Rosenstein sold 150,000 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $19.76, for a total transaction of $2,964,000.00. Following the completion of the transaction, the director now directly owns 1,097,309 shares of the company's stock, valued at approximately $21,682,825.84. This trade represents a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Anne Raimondi sold 27,233 shares of the 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 transaction, the chief operating officer now directly owns 733,855 shares of the company's stock, valued at $15,931,992.05. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 723,300 shares of company stock worth $15,161,068. 63.97% of the stock is owned by corporate insiders.

Institutional Trading of Asana

Several hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new stake in Asana during the fourth quarter valued at approximately $29,000. Bogart Wealth LLC purchased a new stake in Asana during the 4th quarter valued at $61,000. KBC Group NV lifted its position in Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company's stock worth $41,000 after buying an additional 1,211 shares during the last quarter. Quest Partners LLC purchased a new position in Asana during the third quarter worth $43,000. Finally, SBI Securities Co. Ltd. bought a new position in Asana during the fourth quarter valued at $82,000. 26.21% of the stock is currently 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.