Morgan Stanley Lowers Asana (NYSE:ASAN) Price Target to $15.00

Asana (NYSE:ASAN) had its price objective lowered by stock analysts at Morgan Stanley from $18.00 to $15.00 in a research note issued on Wednesday, MarketBeat Ratings reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 16.45% from the company’s current price.

ASAN has been the topic of a number of other research reports. Bank of America decreased their price objective on Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday. JMP Securities raised their price objective on Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, December 6th. Royal Bank of Canada restated an “underperform” rating and issued a $10.00 price objective on shares of Asana in a report on Friday, December 6th. JPMorgan Chase & Co. decreased their price objective on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Tuesday. Finally, Citigroup raised 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 equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.87.

Asana Price Performance

Asana stock opened at $12.88 on Wednesday. The company’s fifty day moving average price is $20.12 and its 200 day moving average price is $16.81. Asana has a 1 year low of $11.05 and a 1 year high of $27.77. The stock has a market capitalization 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.

Insider Buying and Selling at Asana

In other Asana news, Director Justin Rosenstein sold 196,067 shares of Asana stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $21.78, for a total value of $4,270,339.26. Following the completion of the transaction, the director now directly owns 1,651,242 shares of the company’s stock, valued at $35,964,050.76. The trade was a 10.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Anne Raimondi sold 27,233 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.71, for a total value of $591,228.43. Following the transaction, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. This represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 723,300 shares of company stock valued at $15,161,068 in the last three months. 63.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Asana

Several institutional investors have recently added to or reduced their stakes in ASAN. Arrowstreet Capital Limited Partnership purchased a new stake in Asana during the fourth quarter worth approximately $38,966,000. Paradice Investment Management LLC purchased a new stake in Asana during the fourth quarter worth approximately $22,507,000. Two Sigma Investments LP lifted its stake in Asana by 288.1% during the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock worth $28,481,000 after purchasing an additional 1,043,047 shares during the last quarter. Voya Investment Management LLC lifted its stake in Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock valued at $254,166,000 after buying an additional 937,726 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Asana in the fourth quarter valued at approximately $11,781,000. Hedge funds and other institutional investors 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.