Asana (NYSE:ASAN) Given New $13.00 Price Target at Robert W. Baird

Asana (NYSE:ASAN) had its price target cut by Robert W. Baird from $23.00 to $13.00 in a research note published on Tuesday morning, Marketbeat Ratings reports. They currently have a neutral rating on the stock.

Other analysts also recently issued research reports about the company. Morgan Stanley boosted their price objective on Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Scotiabank boosted their price objective on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Jefferies Financial Group decreased their target price on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday. Piper Sandler restated an “overweight” rating and issued a $27.00 target price on shares of Asana in a report on Thursday, February 6th. Finally, Oppenheimer lifted their target price on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.87.

Asana Stock Down 3.9 %

ASAN opened at $12.88 on Tuesday. Asana has a one year low of $11.05 and a one year 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 stock’s fifty day moving average is $20.12 and its 200-day moving average is $16.81. The company has a market capitalization of $2.95 billion, a PE ratio of -11.50 and a beta of 1.13.

Insider Activity

In related news, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction 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 completion of the sale, the chief operating officer now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justin Rosenstein sold 200,000 shares of Asana stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $21.67, for a total value of $4,334,000.00. Following the sale, the director now directly owns 1,847,309 shares of the company’s stock, valued at approximately $40,031,186.03. The trade was a 9.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 723,300 shares of company stock worth $15,161,068. 63.97% of the stock is owned by corporate insiders.

Institutional Trading of Asana

A number of institutional investors have recently bought and sold shares of ASAN. Arrowstreet Capital Limited Partnership acquired a new stake in Asana during the fourth quarter valued at $38,966,000. Paradice Investment Management LLC acquired a new stake in shares of Asana in the fourth quarter worth about $22,507,000. Two Sigma Investments LP lifted its position 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 buying an additional 1,043,047 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after buying an additional 937,726 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Asana in the fourth quarter worth about $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.