Asana (NYSE:ASAN) Price Target Raised to $20.00

Asana (NYSE:ASAN) had its price target raised by equities researchers at Citigroup from $16.00 to $20.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 1.19% from the stock’s previous close.

ASAN has been the subject of several other research reports. Robert W. Baird lifted their price target on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Scotiabank boosted their target price on shares of Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, December 6th. DA Davidson raised their price target on shares of Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Piper Sandler raised Asana from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $27.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada restated an “underperform” rating and issued a $10.00 target price on shares of Asana in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.73.

Asana Stock Up 0.5 %

NYSE:ASAN traded up $0.10 during trading hours on Thursday, reaching $19.77. The company had a trading volume of 966,457 shares, compared to its average volume of 2,802,316. The business’s 50-day simple moving average is $18.87 and its two-hundred day simple moving average is $14.97. Asana has a twelve month low of $11.05 and a twelve month high of $27.77. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of -17.67 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.

Insider Buying and Selling

In other news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.71, for a total value of $591,228.43. Following the transaction, the chief operating officer now owns 733,855 shares of the company’s stock, valued at $15,931,992.05. This represents a 3.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 63.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Asana

Hedge funds and other institutional investors have recently modified their holdings of the company. Krilogy Financial LLC purchased a new stake in Asana in the 4th quarter worth approximately $280,000. Empirical Asset Management LLC purchased a new stake in Asana in the fourth quarter worth about $218,000. Friedenthal Financial bought a new stake in Asana during the 4th quarter valued at approximately $762,000. JPMorgan Chase & Co. raised its position in shares of Asana by 105.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after acquiring an additional 427,576 shares in the last quarter. Finally, Neo Ivy Capital Management raised its position in shares of Asana by 195.1% in the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock worth $1,964,000 after acquiring an additional 112,038 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.