By otakuyassine3@gmail.com 
Asana (NYSE:ASAN – Free Report) had its target price lowered by DA Davidson from $20.00 to $12.00 in a report published on Tuesday,Benzinga reports. DA Davidson currently has a neutral rating on the stock.
Other analysts have also issued reports about the stock. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective on the stock in a research report on Friday, December 6th. JMP Securities increased their target price on Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lowered their target price on shares of Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research note on Tuesday. UBS Group cut their price target on shares of Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Bank of America decreased their price objective on shares of Asana from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $16.07.
View Our Latest Analysis on ASAN
Asana Price Performance
Shares of Asana stock opened at $12.64 on Tuesday. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of -11.28 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. The stock has a 50 day moving average price of $20.40 and a 200-day moving average price of $16.86. Asana has a one year low of $11.05 and a one year high of $27.77.
Insider Activity
In other Asana news, COO Anne Raimondi sold 27,233 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.71, for a total value of $591,228.43. Following the completion of the transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at approximately $15,931,992.05. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Justin Rosenstein sold 150,000 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the sale, the director now directly owns 2,047,309 shares of the company’s stock, valued at approximately $40,966,653.09. The trade was a 6.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 723,300 shares of company stock worth $15,161,068. Corporate insiders own 63.97% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the company. Quarry LP acquired a new position in Asana during the 4th quarter valued at about $29,000. KBC Group NV grew its stake in shares of Asana by 52.1% during 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 during the last quarter. Quest Partners LLC acquired a new position in shares of Asana during the third quarter valued at about $43,000. Bogart Wealth LLC acquired a new position in shares of Asana during the fourth quarter valued at about $61,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Asana in the 4th quarter valued at approximately $82,000. 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.
Further Reading
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