Asana (NYSE:ASAN) Given New $19.00 Price Target at Robert W. Baird

Asana (NYSE:ASAN - Get Free Report) had its price target boosted by analysts at Robert W. Baird from $13.00 to $19.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Robert W. Baird's target price suggests a potential downside of 14.38% from the company's current price.

A number of other research analysts have also issued reports on the stock. UBS Group reduced their target price on shares of Asana from $17.00 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday, September 4th. DA Davidson upped their price objective on shares of Asana from $11.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada reaffirmed an "underperform" rating and issued a $10.00 target price on shares of Asana in a research note on Wednesday, October 23rd. Oppenheimer reduced their price target on Asana from $23.00 to $20.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 4th. Finally, Citigroup lowered their price objective on Asana from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Asana presently has a consensus rating of "Hold" and a consensus target price of $16.53.

Asana Price Performance

Shares of NYSE:ASAN traded up $6.73 during midday trading on Friday, hitting $22.19. 23,918,113 shares of the stock were exchanged, compared to its average volume of 1,698,546. Asana has a twelve month low of $11.05 and a twelve month high of $22.54. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average price of $13.37 and a 200-day moving average price of $13.30. The stock has a market cap of $5.06 billion, a P/E ratio of -19.81 and a beta of 1.22.

Asana (NYSE:ASAN - Get Free Report) last announced its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.03. The company had revenue of $179.21 million during the quarter, compared to analysts' expectations of $177.68 million. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.31) earnings per share. On average, research analysts forecast that Asana will post -1.14 earnings per share for the current year.

Insider Activity at Asana

In related news, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the sale, the chief operating officer now owns 761,088 shares of the company's stock, valued at $9,125,445.12. The trade was a 3.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eleanor B. Lacey sold 9,308 shares of the business's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $111,602.92. Following the completion of the transaction, the insider now owns 375,310 shares in the company, valued at $4,499,966.90. This represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,092 shares of company stock worth $527,668. 63.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Asana

Hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC raised its holdings in Asana by 327.9% in the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company's stock valued at $41,000 after acquiring an additional 2,220 shares in the last quarter. KBC Group NV raised its stake in shares of Asana by 52.1% in the 3rd 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 shares of Asana during the third quarter worth about $43,000. Redwood Wealth Management Group LLC acquired a new position in Asana in the second quarter worth about $65,000. Finally, Daiwa Securities Group Inc. grew its stake in Asana by 26.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company's stock worth $70,000 after purchasing an additional 1,028 shares in the last quarter. 26.21% of the stock is 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.