Asana (NYSE:ASAN - Get Free Report) had its target price lowered by Bank of America from $30.00 to $25.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price objective indicates a potential upside of 49.78% from the company's current price.
Other equities research analysts also recently issued research reports about the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $27.00 target price on shares of Asana in a research report on Thursday, February 6th. KeyCorp upgraded Asana from an "underweight" rating to a "sector weight" rating and set a $10.00 price objective for the company in a research report on Friday, December 6th. DA Davidson raised their target price on Asana from $13.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. JMP Securities upped their price target 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. Finally, Scotiabank increased their price objective on shares of Asana from $15.00 to $18.00 and gave the stock a "sector perform" rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $17.07.
Check Out Our Latest Analysis on ASAN
Asana Stock Performance
Shares of ASAN stock opened at $16.69 on Tuesday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average price of $20.55 and a 200-day moving average price of $16.87. Asana has a 52 week low of $11.05 and a 52 week high of $27.77. The firm has a market capitalization of $3.82 billion, a PE ratio of -14.90 and a beta of 1.13.
Insider Transactions at Asana
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 value of $591,228.43. Following the sale, the chief operating officer now owns 733,855 shares in the company, valued at $15,931,992.05. The trade was a 3.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justin Rosenstein sold 150,000 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total transaction 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 trade represents a 6.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 723,300 shares of company stock valued at $15,161,068 over the last 90 days. Company insiders own 63.97% of the company's stock.
Hedge Funds Weigh In On Asana
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Asana during the 4th quarter worth approximately $29,000. Bogart Wealth LLC bought a new stake in Asana in the fourth quarter worth $61,000. 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 purchasing an additional 1,211 shares in the last quarter. Quest Partners LLC bought a new position in Asana during the third quarter valued at $43,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Asana in the 4th quarter worth $82,000. 26.21% of the stock is owned by institutional investors.
About Asana
(
Get Free Report)
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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