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

Asana (NYSE:ASAN) had its price target dropped by Morgan Stanley from $15.00 to $14.00 in a note issued to investors on Wednesday, MarketBeat reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential downside of 5.63% from the company’s previous close.

A number of other research analysts also recently weighed in on ASAN. Citigroup lifted their price target on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. DA Davidson decreased their price objective on Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Robert W. Baird dropped their target price on Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. JMP Securities set a $22.00 price target on shares of Asana in a report on Tuesday, March 11th. Finally, UBS Group dropped their price objective on shares of Asana from $18.00 to $14.00 and set a “neutral” 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 assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Asana currently has a consensus rating of “Hold” and an average price target of $15.60.

Asana Trading Down 1.4 %

Asana stock opened at $14.84 on Wednesday. Asana has a 52 week low of $11.05 and a 52 week high of $27.77. 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 firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -13.25 and a beta of 1.23. The company has a 50 day moving average price of $17.00 and a 200 day moving average price of $17.22.

Insider Buying and Selling

In other news, CEO Dustin A. Moskovitz bought 50,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were acquired at an average cost of $15.84 per share, for a total transaction of $792,000.00. Following the purchase, the chief executive officer now owns 51,398,436 shares of the company’s stock, valued at $814,151,226.24. This represents a 0.10 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Anne Raimondi sold 18,775 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total transaction of $263,413.25. Following the transaction, the chief operating officer now directly owns 716,580 shares of the company’s stock, valued at approximately $10,053,617.40. This represents a 2.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders acquired 2,074,507 shares of company stock worth $30,025,743 and sold 739,842 shares worth $15,155,503. 63.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Asana

Several large investors have recently made changes to their positions in ASAN. Arrowstreet Capital Limited Partnership acquired a new stake in Asana in the 4th quarter valued at approximately $38,966,000. Paradice Investment Management LLC bought a new stake in shares of Asana in the fourth quarter valued at approximately $22,507,000. Two Sigma Investments LP grew its stake in shares of Asana by 288.1% in the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock worth $28,481,000 after acquiring an additional 1,043,047 shares during the last quarter. Voya Investment Management LLC increased its position in Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after acquiring an additional 937,726 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Asana during the 4th quarter valued at $11,781,000. Institutional investors and hedge funds 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.