Asana (NYSE:ASAN) Given New $14.00 Price Target at Morgan Stanley

Asana (NYSE:ASAN - Free Report) had its price target cut by Morgan Stanley from $15.00 to $14.00 in a research report sent to investors on Wednesday, Marketbeat.com reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also commented on the stock. UBS Group decreased their price objective on shares of Asana from $18.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Piper Sandler decreased their target price on Asana from $27.00 to $18.00 and set an "overweight" rating for the company in a research report on Tuesday, March 11th. Scotiabank lowered their price target on Asana from $18.00 to $12.00 and set a "sector perform" rating on the stock in a report on Tuesday, March 11th. DA Davidson reduced their price objective on Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Finally, Bank of America lowered their target price on Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Asana currently has a consensus rating of "Hold" and an average target price of $15.60.

Asana Trading Down 1.4 %

ASAN traded down $0.21 during trading on Wednesday, reaching $14.84. The company had a trading volume of 1,683,310 shares, compared to its average volume of 2,748,451. The firm's 50-day simple moving average is $16.85 and its 200 day simple moving average is $17.28. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market cap of $3.46 billion, a price-to-earnings ratio of -13.25 and a beta of 1.23. Asana has a 12-month low of $11.05 and a 12-month high of $27.77.

Insider Buying and Selling at Asana

In related news, Director Justin Rosenstein sold 150,000 shares of the business's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the completion of the transaction, the director now owns 2,047,309 shares of the company's stock, valued at approximately $40,966,653.09. The trade was a 6.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of Asana stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $12.91 per share, with a total value of $2,904,750.00. Following the completion of the transaction, the chief executive officer now directly owns 48,123,436 shares of the company's stock, valued at $621,273,558.76. This trade represents a 0.47 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 2,074,507 shares of company stock worth $30,025,743 and have sold 739,842 shares worth $15,155,503. Corporate insiders own 63.97% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of Asana by 105.6% in the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company's stock valued at $9,650,000 after purchasing an additional 427,576 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Asana during the 4th quarter worth about $2,349,000. Meeder Asset Management Inc. boosted its position in shares of Asana by 49.2% during the 4th quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company's stock valued at $1,572,000 after acquiring an additional 25,564 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Asana by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company's stock valued at $14,083,000 after acquiring an additional 48,831 shares during the period. Finally, Friedenthal Financial acquired a new position in Asana in the fourth quarter worth about $762,000. 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.