UBS Group Has Lowered Expectations for Asana (NYSE:ASAN) Stock Price

Asana (NYSE:ASAN) had its price target lowered by equities research analysts at UBS Group from $18.00 to $14.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective points to a potential upside of 15.71% from the company’s previous close.

Several other research firms also recently issued reports on ASAN. Citigroup upped their price target on Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 target price on the stock in a research note on Friday, December 6th. Robert W. Baird cut their price target on shares of Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday. DA Davidson lifted their price objective on Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $10.00 target price on shares of Asana in a report on Friday, December 6th. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $16.73.

Asana Stock Down 27.5 %

Shares of ASAN stock traded down $4.58 on Tuesday, hitting $12.10. The company’s stock had a trading volume of 4,725,902 shares, compared to its average volume of 2,512,973. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -10.69 and a beta of 1.13. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The firm’s fifty day moving average price is $20.55 and its 200-day moving average price is $16.87.

Insiders Place Their Bets

In other news, Director Justin Rosenstein sold 150,000 shares of the company’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 sale, the director now directly owns 1,097,309 shares of the company’s stock, valued at $21,682,825.84. This represents a 12.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.71, for a total transaction of $591,228.43. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 723,300 shares of company stock valued at $15,161,068. Company insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

A number of large investors have recently made changes to their positions in ASAN. Quarry LP acquired a new position in Asana in the fourth quarter valued at about $29,000. KBC Group NV grew 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 purchasing an additional 1,211 shares during the period. Quest Partners LLC bought a new stake in Asana during the 3rd quarter worth approximately $43,000. Bogart Wealth LLC bought a new position in Asana in the fourth quarter valued at approximately $61,000. Finally, SBI Securities Co. Ltd. bought a new position in Asana in the fourth 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.