Asana (NYSE:ASAN) Price Target Lowered to $18.00 at Piper Sandler

Asana (NYSE:ASAN) had its price objective dropped by equities researchers at Piper Sandler from $27.00 to $18.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 33.88% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Scotiabank upped their price objective 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. Robert W. Baird dropped their price objective on shares of Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday. Jefferies Financial Group decreased their price target on shares of Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued 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 given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Asana has an average rating of “Hold” and an average price target of $15.87.

Asana Stock Up 6.4 %

Shares of ASAN opened at $13.45 on Tuesday. The company has a 50-day simple moving average of $20.26 and a 200-day simple moving average of $16.84. The firm has a market capitalization of $3.08 billion, a P/E ratio of -12.00 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana has a 52 week low of $11.05 and a 52 week high of $27.77.

Insider Buying and Selling

In other Asana news, Director Justin Rosenstein sold 150,000 shares of Asana stock in a transaction on Monday, February 24th. The shares were sold at an average price of $19.76, for a total value of $2,964,000.00. Following the sale, the director now directly owns 1,097,309 shares in the company, valued at approximately $21,682,825.84. The trade was a 12.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.71, for a total transaction of $591,228.43. Following the completion of the transaction, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 723,300 shares of company stock worth $15,161,068 over the last ninety days. Company insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in shares of Asana in the 4th quarter valued at about $29,000. Bogart Wealth LLC acquired a new position in shares of Asana in the 4th quarter valued at approximately $61,000. KBC Group NV raised its position in shares of Asana by 52.1% in the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after buying an additional 1,211 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Asana in the 3rd quarter valued at approximately $43,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Asana in the 4th quarter valued at approximately $82,000. 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.