Robert W. Baird Increases Asana (NYSE:ASAN) Price Target to $19.00

Asana (NYSE:ASAN) had its price target raised by Robert W. Baird from $13.00 to $19.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts also recently issued reports about the stock. KeyCorp upgraded shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target on the stock in a report on Friday. Royal Bank of Canada restated an “underperform” rating and issued a $10.00 target price on shares of Asana in a report on Wednesday, October 23rd. Oppenheimer reduced their target price on shares of Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Citigroup reduced their target price on shares of Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Finally, Scotiabank began coverage on shares of Asana in a report on Monday, November 18th. They issued a “sector perform” rating and a $15.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $16.53.

Asana Stock Performance

Shares of NYSE ASAN opened at $22.19 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market cap of $5.06 billion, a P/E ratio of -19.81 and a beta of 1.22. The firm’s fifty day moving average is $13.37 and its two-hundred day moving average is $13.29. Asana has a 52-week low of $11.05 and a 52-week high of $22.54.

Insider Buying and Selling

In other Asana news, COO Anne Raimondi sold 29,807 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $357,385.93. Following the completion of the sale, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at $9,125,445.12. The trade was a 3.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eleanor B. Lacey sold 4,977 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $58,678.83. Following the completion of the sale, the insider now directly owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,092 shares of company stock valued at $527,668. Company insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

Several large investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its position in Asana by 3.6% in the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock valued at $327,000 after buying an additional 803 shares during the period. Diversified Trust Co lifted its position in shares of Asana by 2.6% in the 2nd quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock worth $489,000 after purchasing an additional 900 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Asana by 26.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after purchasing an additional 1,028 shares during the period. KBC Group NV lifted 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 worth $41,000 after purchasing an additional 1,211 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Asana by 11.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock worth $238,000 after purchasing an additional 1,769 shares during the period. 26.21% of the stock is owned by hedge funds and other institutional investors.

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.