Asana (NYSE:ASAN) Price Target Raised to $22.00 at Oppenheimer

Asana (NYSE:ASAN - Free Report) had its price target raised by Oppenheimer from $20.00 to $22.00 in a report issued on Friday,Benzinga reports. They currently have an outperform rating on the stock.

ASAN has been the subject of a number of other reports. DA Davidson boosted their price objective on Asana from $11.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Morgan Stanley dropped their target price on shares of Asana from $19.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 20th. Jefferies Financial Group raised their price target on shares of Asana from $13.00 to $16.00 and gave the company a "hold" rating in a research note on Friday. Scotiabank began coverage on Asana in a research note on Monday, November 18th. They set a "sector perform" rating and a $15.00 price objective for the company. Finally, UBS Group decreased their target price on Asana from $17.00 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $16.53.

Asana Stock Performance

Shares of NYSE:ASAN traded up $6.73 during trading on Friday, hitting $22.19. 23,918,113 shares of the stock traded hands, compared to its average volume of 1,698,546. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average price of $13.37 and a two-hundred day moving average price of $13.30. Asana has a 52-week low of $11.05 and a 52-week high of $22.54. The company has a market cap of $5.06 billion, a price-to-earnings ratio of -19.81 and a beta of 1.22.

Asana (NYSE:ASAN - Get Free Report) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The business had revenue of $179.21 million for the quarter, compared to analyst estimates of $177.68 million. The company's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.31) EPS. As a group, equities analysts predict that Asana will post -1.14 EPS for the current year.

Insider Transactions at Asana

In other Asana news, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the completion of the sale, the chief operating officer now directly owns 761,088 shares in the company, valued at $9,125,445.12. This trade represents a 3.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eleanor B. Lacey sold 4,977 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $58,678.83. Following the completion of the transaction, the insider now owns 370,333 shares in the company, valued at approximately $4,366,226.07. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,092 shares of company stock worth $527,668 in the last 90 days. Insiders own 63.97% of the company's stock.

Institutional Investors Weigh In On Asana

Several institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in Asana during the second quarter worth about $17,100,000. Cubist Systematic Strategies LLC acquired a new stake in Asana during the 2nd quarter worth approximately $5,169,000. Marshall Wace LLP purchased a new position in Asana in the 2nd quarter valued at approximately $3,159,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Asana in the second quarter worth $3,050,000. Finally, Holocene Advisors LP increased its position in shares of Asana by 62.2% during the third quarter. Holocene Advisors LP now owns 305,167 shares of the company's stock worth $3,537,000 after acquiring an additional 116,998 shares during the period. Hedge funds and other institutional investors 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.