Asana (NYSE:ASAN) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Asana (NYSE:ASAN) from a neutral rating to an overweight rating in a research report sent to investors on Monday, Marketbeat Ratings reports. Piper Sandler currently has $27.00 price target on the stock, up from their prior price target of $19.00.

Other equities research analysts have also issued reports about the company. KeyCorp raised Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target for the company in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their price target on Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Robert W. Baird increased their price target on Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Oppenheimer increased their price target on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, DA Davidson raised their target price on Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Asana currently has a consensus rating of “Hold” and an average price target of $17.27.

Asana Trading Down 3.9 %

NYSE ASAN opened at $19.56 on Monday. The firm has a market capitalization of $4.47 billion, a P/E ratio of -17.46 and a beta of 1.10. The business has a fifty day simple moving average of $18.23 and a 200 day simple moving average of $14.75. Asana has a 12 month low of $11.05 and a 12 month high of $27.77. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17.

Insider Transactions at Asana

In other Asana news, COO Anne Raimondi sold 27,233 shares of the firm’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 completion of the transaction, the chief operating officer now owns 733,855 shares in the company, valued at $15,931,992.05. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 63.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Asana by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock worth $21,605,000 after purchasing an additional 12,055 shares during the period. Point72 Asset Management L.P. bought a new position in Asana in the 2nd quarter worth about $17,100,000. JPMorgan Chase & Co. boosted its stake in 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 purchasing an additional 427,576 shares during the period. Cubist Systematic Strategies LLC bought a new position in Asana in the 2nd quarter worth about $5,169,000. Finally, Holocene Advisors LP boosted its position in shares of Asana by 62.2% during the 3rd quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock valued at $3,537,000 after acquiring an additional 116,998 shares during the last quarter. Institutional investors own 26.21% of the company’s stock.

About Asana

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.