Asana (NYSE:ASAN) Upgraded at KeyCorp

KeyCorp upgraded shares of Asana (NYSE:ASAN) from an underweight rating to a sector weight rating in a research note issued to investors on Friday morning, MarketBeat reports. They currently have $10.00 target price on the stock.

A number of other brokerages also recently weighed in on ASAN. UBS Group cut their target price on Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. JMP Securities dropped their price objective on Asana from $27.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Wednesday, September 4th. Oppenheimer dropped their price objective on Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Citigroup dropped their price objective on Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $10.00 price objective on shares of Asana in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Asana currently has a consensus rating of “Hold” and a consensus target price of $16.53.

Asana Price Performance

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

Insider Buying and Selling at Asana

In other news, insider Eleanor B. Lacey sold 4,977 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $58,678.83. Following the transaction, the insider now owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the completion of the transaction, the chief operating officer now directly owns 761,088 shares in the company, valued at approximately $9,125,445.12. The trade was a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,092 shares of company stock valued at $527,668 in the last 90 days. 63.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC grew its position in Asana by 327.9% in the second 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 position in Asana by 52.1% in the third 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 purchased a new position in Asana in the third quarter worth $43,000. Redwood Wealth Management Group LLC purchased a new position in Asana in the second quarter worth $65,000. Finally, Daiwa Securities Group Inc. grew its position in Asana by 26.0% in the second 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. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

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.