Asana (NYSE:ASAN) Price Target Raised to $18.00

Asana (NYSE:ASAN) had its price objective raised by Scotiabank from $15.00 to $18.00 in a research note released on Friday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Several other brokerages have also recently issued reports on ASAN. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Asana in a report on Friday. Jefferies Financial Group boosted their price objective on shares of Asana from $13.00 to $16.00 and gave the company a “hold” rating in a report on Friday. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective for the company in a report on Friday. Citigroup decreased their price objective on shares of Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.53.

Asana Trading Up 43.5 %

Shares of ASAN opened at $22.19 on Friday. The firm’s 50-day moving average price is $13.37 and its 200-day moving average price is $13.29. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of -19.81 and a beta of 1.22. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. Asana has a 1-year low of $11.05 and a 1-year high of $22.54.

Insider Activity at Asana

In other news, COO Anne Raimondi sold 29,807 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $357,385.93. Following the sale, the chief operating officer now owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. This represents a 3.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eleanor B. Lacey sold 9,308 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $111,602.92. Following the completion of the sale, the insider now directly owns 375,310 shares in the company, valued at approximately $4,499,966.90. This represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,092 shares of company stock valued at $527,668 over the last 90 days. 63.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC grew its holdings in Asana by 327.9% during the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after acquiring an additional 2,220 shares in the last quarter. KBC Group NV grew its holdings in Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after acquiring an additional 1,211 shares in the last quarter. Quest Partners LLC bought a new position in Asana during the 3rd quarter worth about $43,000. Redwood Wealth Management Group LLC bought a new position in Asana during the 2nd quarter worth about $65,000. Finally, Daiwa Securities Group Inc. grew its holdings in Asana by 26.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after acquiring an additional 1,028 shares in the last quarter. Hedge funds and other 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.