Jefferies Financial Group Raises Asana (NYSE:ASAN) Price Target to $16.00

Asana (NYSE:ASAN) had its price target increased by Jefferies Financial Group from $13.00 to $16.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other research firms have also weighed in on ASAN. Piper Sandler lifted their price objective on shares of Asana from $12.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday. DA Davidson boosted their price target on shares of Asana from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Robert W. Baird raised their price objective on Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday. Citigroup decreased their target price on Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Finally, Bank of America dropped their price target on Asana from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $16.53.

Asana Stock Up 43.6 %

NYSE:ASAN opened at $22.20 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.63. Asana has a 52-week low of $11.05 and a 52-week high of $22.54. The company has a market cap of $5.06 billion, a price-to-earnings ratio of -19.30 and a beta of 1.22. The stock’s fifty day moving average price is $13.17 and its two-hundred day moving average price is $13.25.

Asana (NYSE:ASAN) last issued its earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The company had revenue of $179.21 million during the quarter, compared to analysts’ expectations of $177.68 million. During the same quarter in the previous year, the company posted ($0.31) EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts anticipate that Asana will post -1.14 EPS for the current year.

Insider Transactions at Asana

In related news, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the completion of the transaction, the chief operating officer now owns 761,088 shares in the company, valued at approximately $9,125,445.12. This trade represents a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eleanor B. Lacey sold 4,977 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $58,678.83. Following the completion of the sale, the insider now directly owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,092 shares of company stock worth $527,668 in the last 90 days. Corporate insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

A number of large investors have recently added to or reduced their stakes in ASAN. Price T Rowe Associates Inc. MD increased its holdings in shares of Asana by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,368 shares of the company’s stock valued at $827,000 after purchasing an additional 3,033 shares during the last quarter. Diversified Trust Co grew its stake in Asana by 2.6% in the 2nd quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock valued at $489,000 after buying an additional 900 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Asana during the second quarter worth approximately $803,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Asana by 11.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock worth $238,000 after acquiring an additional 1,769 shares during the last quarter. Finally, Versor Investments LP boosted its holdings in shares of Asana by 48.3% during the second quarter. Versor Investments LP now owns 23,200 shares of the company’s stock worth $325,000 after acquiring an additional 7,557 shares during the period. 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.