Scotiabank Lowers Asana (NYSE:ASAN) Price Target to $12.00

Asana (NYSE:ASAN - Get Free Report) had its price objective cut by equities research analysts at Scotiabank from $18.00 to $12.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Scotiabank's price target would indicate a potential downside of 0.82% from the company's current price.

ASAN has been the subject of several other reports. Robert W. Baird dropped their price target on Asana from $23.00 to $13.00 and set a "neutral" rating for the company in a report on Tuesday. KeyCorp raised Asana from an "underweight" rating to a "sector weight" rating and set a $10.00 target price for the company in a report on Friday, December 6th. Morgan Stanley upped their price target on shares of Asana from $14.00 to $18.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. Citigroup lifted their price objective on shares of Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Finally, Jefferies Financial Group cut their price objective on shares of Asana from $19.00 to $15.00 and set a "hold" rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $16.73.

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Asana Stock Performance

Asana stock traded down $4.58 during trading hours on Tuesday, hitting $12.10. The company had a trading volume of 4,725,902 shares, compared to its average volume of 2,512,973. Asana has a one year low of $11.05 and a one year high of $27.77. The firm has a market cap of $2.77 billion, a PE ratio of -10.69 and a beta of 1.13. The firm has a 50-day moving average of $20.55 and a 200 day moving average of $16.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Insider Buying and Selling at Asana

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

Institutional Trading of Asana

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in Asana during the 4th quarter worth approximately $29,000. KBC Group NV raised its stake in shares of Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company's stock valued at $41,000 after acquiring an additional 1,211 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Asana during the third quarter worth $43,000. Bogart Wealth LLC bought a new stake in shares of Asana in the fourth quarter worth $61,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Asana in the fourth quarter worth $82,000. 26.21% of the stock is currently owned by 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.

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