Jefferies Financial Group Boosts Asana (NYSE:ASAN) Price Target to $19.00

Asana (NYSE:ASAN) had its price objective boosted by equities researchers at Jefferies Financial Group from $16.00 to $19.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s target price suggests a potential downside of 13.40% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. DA Davidson upped their price objective on shares of Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on shares of Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. JMP Securities boosted their price objective on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, December 6th. Oppenheimer lifted their price target on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Morgan Stanley boosted their price target on Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Two 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.27.

Asana Stock Up 6.5 %

Shares of Asana stock traded up $1.33 during trading on Monday, reaching $21.94. The company’s stock had a trading volume of 3,138,856 shares, compared to its average volume of 2,544,612. Asana has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a 50-day simple moving average of $17.72 and a two-hundred day simple moving average of $14.60. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a market cap of $5.02 billion, a price-to-earnings ratio of -19.59 and a beta of 1.10.

Insider Activity

In other Asana 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 transaction of $591,228.43. Following the transaction, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at $15,931,992.05. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC boosted its holdings in Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after buying an additional 2,220 shares during the last quarter. KBC Group NV boosted its stake in shares of Asana by 52.1% in 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 purchased a new position in Asana in the 3rd quarter valued at $43,000. Redwood Wealth Management Group LLC acquired a new stake in Asana during the 2nd quarter worth $65,000. Finally, Daiwa Securities Group Inc. boosted its stake in Asana by 26.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after purchasing an additional 1,028 shares during the last quarter. Institutional investors and hedge funds 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.