Asana (NYSE:ASAN) Given Overweight Rating at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Asana (NYSE:ASAN) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $27.00 price target on the stock.

A number of other equities analysts have also recently weighed in on the company. Robert W. Baird boosted their price target on Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Morgan Stanley boosted their target price 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. JPMorgan Chase & Co. upped their target price on shares of Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, December 6th. KeyCorp upgraded shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target for the company in a report on Friday, December 6th. Finally, Citigroup upped their price objective on shares of Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.73.

Asana Trading Down 1.7 %

Shares of ASAN opened at $21.77 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. Asana has a 1-year low of $11.05 and a 1-year high of $27.77. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of -19.44 and a beta of 1.11. The firm has a 50 day simple moving average of $20.87 and a 200-day simple moving average of $15.74.

Insider Transactions at Asana

In other Asana news, COO Anne Raimondi sold 27,233 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 733,855 shares in the company, valued at $15,931,992.05. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justin Rosenstein sold 200,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 1,847,309 shares in the company, valued at approximately $40,031,186.03. This represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 573,300 shares of company stock worth $12,197,068 in the last ninety days. Insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

Several large investors have recently added to or reduced their stakes in the stock. KBC Group NV lifted 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 worth $41,000 after purchasing an additional 1,211 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Asana during the 3rd quarter valued at about $43,000. Bogart Wealth LLC acquired a new position in Asana during the 4th quarter worth approximately $61,000. SBI Securities Co. Ltd. purchased a new position in Asana in the 4th quarter worth approximately $82,000. Finally, MQS Management LLC acquired a new stake in Asana in the third quarter valued at approximately $141,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.