UBS Group Lowers Asana (NYSE:ASAN) Price Target to $14.00

Asana (NYSE:ASAN) had its target price cut by UBS Group from $18.00 to $14.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

ASAN has been the subject of a number of other research reports. Piper Sandler dropped their price objective on Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday. Oppenheimer boosted their price objective on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Royal Bank of Canada restated an “underperform” rating and set a $10.00 price objective on shares of Asana in a report on Friday, December 6th. Jefferies Financial Group dropped their price objective on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Citigroup boosted their price objective on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Two 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.com, Asana has a consensus rating of “Hold” and an average target price of $15.87.

Asana Stock Performance

NYSE ASAN opened at $12.88 on Tuesday. The company has a market cap of $2.95 billion, a P/E ratio of -11.50 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. The business’s 50 day moving average price is $20.12 and its 200-day moving average price is $16.81. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $27.77.

Insider Transactions at Asana

In other news, COO Anne Raimondi sold 27,233 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.71, for a total value 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. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 1,097,309 shares in the company, valued at $21,682,825.84. This represents a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 723,300 shares of company stock valued at $15,161,068. Corporate insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after buying an additional 427,576 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Asana in the third quarter valued at about $538,000. Neo Ivy Capital Management increased its holdings in shares of Asana by 195.1% in the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock valued at $1,964,000 after purchasing an additional 112,038 shares during the period. Friedenthal Financial acquired a new position in shares of Asana in the fourth quarter valued at about $762,000. Finally, Intech Investment Management LLC acquired a new position in shares of Asana in the third quarter valued at about $456,000. 26.21% of the stock is owned by institutional investors and hedge funds.

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.