Jefferies Financial Group Cuts Asana (NYSE:ASAN) Price Target to $15.00

Asana (NYSE:ASAN - Get Free Report) had its target price reduced by investment analysts at Jefferies Financial Group from $19.00 to $15.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Jefferies Financial Group's target price would suggest a potential downside of 10.13% from the company's previous close.

ASAN has been the subject of several other research reports. Royal Bank of Canada reissued an "underperform" rating and issued a $10.00 target price on shares of Asana in a research report on Friday, December 6th. DA Davidson lifted their price objective on shares of Asana from $13.00 to $20.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Oppenheimer lifted their price target on shares of Asana from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Bank of America dropped their price objective on shares of Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Citigroup lifted their target price on Asana from $16.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $17.07.

Remove Ads

Asana Stock Performance

Asana stock opened at $16.69 on Tuesday. The stock has a market cap of $3.82 billion, a P/E ratio of -14.90 and a beta of 1.13. The stock has a 50 day moving average of $20.55 and a 200-day moving average of $16.87. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana has a 52 week low of $11.05 and a 52 week high of $27.77.

Insider Transactions at Asana

In other news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.71, for a total transaction of $591,228.43. Following the completion of the sale, the chief operating officer now owns 733,855 shares in the company, valued at approximately $15,931,992.05. This represents a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justin Rosenstein sold 200,000 shares of the firm's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $21.67, for a total value of $4,334,000.00. Following the sale, the director now directly owns 1,847,309 shares of the company's stock, valued at approximately $40,031,186.03. This represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 723,300 shares of company stock valued at $15,161,068. Corporate insiders own 63.97% of the company's stock.

Institutional Investors Weigh In On Asana

Hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership purchased a new position in Asana in the 4th quarter worth about $38,966,000. Paradice Investment Management LLC purchased a new position in shares of Asana in the fourth quarter worth approximately $22,507,000. Two Sigma Investments LP increased its position in shares of Asana by 288.1% in the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock worth $28,481,000 after acquiring an additional 1,043,047 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after acquiring an additional 937,726 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Asana in the 4th quarter valued at approximately $11,781,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.