Asana (NYSE:ASAN) Price Target Raised to $15.00 at JPMorgan Chase & Co.

Asana (NYSE:ASAN - Get Free Report) had its price target raised by equities researchers at JPMorgan Chase & Co. from $13.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential downside of 32.40% from the company's current price.

A number of other analysts have also recently commented on the company. Oppenheimer lifted their target price on Asana from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Friday. Robert W. Baird lifted their price target on Asana from $13.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday. Scotiabank assumed coverage on shares of Asana in a research report on Monday, November 18th. They set a "sector perform" rating and a $15.00 target price on the stock. Bank of America cut their target price on shares of Asana from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, September 4th. Finally, DA Davidson raised their price objective on shares of Asana from $11.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $16.53.

Asana Stock Up 43.5 %

ASAN stock traded up $6.73 during trading on Friday, hitting $22.19. 23,918,113 shares of the company's stock were exchanged, compared to its average volume of 1,698,546. The business has a 50-day moving average price of $13.37 and a two-hundred day moving average price of $13.30. 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 stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of -19.81 and a beta of 1.22. Asana has a 52-week low of $11.05 and a 52-week high of $22.54.

Asana (NYSE:ASAN - Get Free Report) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) 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 firm had revenue of $179.21 million for the quarter, compared to analyst estimates of $177.68 million. During the same period last year, the business earned ($0.31) EPS. Asana's revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities research analysts expect that Asana will post -1.14 EPS for the current year.

Insider Activity at Asana

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

Institutional Investors Weigh In On Asana

Institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC boosted its stake in shares of Asana by 327.9% during the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company's stock worth $41,000 after purchasing an additional 2,220 shares during the last quarter. KBC Group NV boosted its position in Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company's stock worth $41,000 after acquiring an additional 1,211 shares during the last quarter. Quest Partners LLC purchased a new stake in Asana in the 3rd quarter worth approximately $43,000. Redwood Wealth Management Group LLC purchased a new position in shares of Asana during the 2nd quarter worth $65,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Asana by 26.0% during 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 during the last quarter. Hedge funds and other institutional investors own 26.21% of the company's stock.

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.