Asana (NYSE:ASAN - Get Free Report) had its price target decreased by stock analysts at Piper Sandler from $27.00 to $18.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price target suggests a potential upside of 7.84% from the company's previous close.
ASAN has been the subject of a number of other research reports. Jefferies Financial Group dropped their price target on Asana from $19.00 to $15.00 and set a "hold" rating for the company in a research report on Tuesday. KeyCorp upgraded shares of 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. Robert W. Baird cut their target price on shares of Asana from $23.00 to $13.00 and set a "neutral" rating for the company in a research report on Tuesday. Scotiabank increased their price target on shares of Asana from $15.00 to $18.00 and gave the company a "sector perform" rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada reissued an "underperform" rating and set a $10.00 price objective on shares of Asana in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $17.07.
Read Our Latest Research Report on Asana
NYSE ASAN opened at $16.69 on Tuesday. The business has a 50 day moving average price of $20.55 and a 200 day moving average price of $16.87. The company has a market capitalization of $3.82 billion, a P/E ratio of -14.90 and a beta of 1.13. Asana has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.
In other Asana news, COO Anne Raimondi sold 27,233 shares of the company's stock in a transaction dated 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 directly owns 733,855 shares in the company, valued at $15,931,992.05. This represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Justin Rosenstein sold 150,000 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $19.76, for a total value of $2,964,000.00. Following the completion of the transaction, the director now owns 1,097,309 shares in the company, valued at approximately $21,682,825.84. This trade represents a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 723,300 shares of company stock worth $15,161,068. 63.97% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new position in Asana during the fourth quarter valued at approximately $29,000. KBC Group NV increased its position in shares of Asana by 52.1% in 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 in the last quarter. Quest Partners LLC purchased a new position in shares of Asana in the 3rd quarter valued at $43,000. Bogart Wealth LLC acquired a new position in shares of Asana during the 4th quarter valued at $61,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Asana during the 4th quarter worth $82,000. Institutional investors and hedge funds own 26.21% of the company's stock.
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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