Asana (NYSE:ASAN) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Asana (NYSE:ASAN) had its price objective lifted by Jefferies Financial Group from $16.00 to $19.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a hold rating on the stock.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. upped their price objective on Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Robert W. Baird upped their price objective on Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. JMP Securities upped their price objective on Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. Morgan Stanley raised their price target on Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Finally, KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target for the company in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.27.

Asana Stock Performance

NYSE ASAN opened at $19.56 on Monday. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of -17.46 and a beta of 1.10. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $18.23 and a 200-day moving average price of $14.75. Asana has a twelve month low of $11.05 and a twelve month high of $27.77.

Insider Transactions at Asana

In related news, COO Anne Raimondi sold 27,233 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.71, for a total transaction of $591,228.43. Following the completion of the sale, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

A number of institutional investors and hedge funds have recently modified their holdings of the business. Arizona State Retirement System lifted its stake in shares of Asana by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock worth $327,000 after acquiring an additional 803 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Asana by 26.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after purchasing an additional 1,028 shares in the last quarter. KBC Group NV raised its position in Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after purchasing an additional 1,211 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Asana by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock valued at $238,000 after purchasing an additional 1,769 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Asana by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock valued at $687,000 after purchasing an additional 1,888 shares in the last quarter. 26.21% of the stock is owned by 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.