Asana (NYSE:ASAN) Stock Rating Upgraded by Piper Sandler

Asana (NYSE:ASAN) was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Monday, MarketBeat.com reports. The firm currently has a $27.00 price target on the stock, up from their prior price target of $19.00. Piper Sandler’s price target points to a potential upside of 32.42% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Robert W. Baird boosted their price objective 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. JMP Securities raised their price target on Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, December 6th. DA Davidson increased their target price on Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Oppenheimer boosted their price target on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $10.00 price objective on shares of Asana in a research report on Friday, December 6th. Two equities 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.27.

Asana Stock Down 6.5 %

ASAN stock opened at $20.39 on Monday. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of -18.21 and a beta of 1.10. Asana has a 1-year low of $11.05 and a 1-year high of $27.77. The firm has a fifty day moving average price of $18.09 and a two-hundred day moving average price of $14.72. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Insider Buying and Selling

In other Asana news, COO Anne Raimondi sold 27,233 shares of the company’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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 63.97% of the stock is owned by corporate insiders.

Institutional Trading of Asana

Large investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new stake in shares of Asana during the 2nd quarter valued at $17,100,000. JPMorgan Chase & Co. raised its holdings in Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after buying an additional 427,576 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Asana during the second quarter valued at about $5,169,000. Marshall Wace LLP acquired a new position in shares of Asana in the second quarter worth about $3,159,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Asana in the second quarter worth approximately $3,050,000. 26.21% of the stock is currently 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.