Asana (NYSE:ASAN) Price Target Cut to $18.00 by Analysts at Piper Sandler

Asana (NYSE:ASAN) had its price target decreased by equities research analysts at Piper Sandler from $27.00 to $18.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 7.84% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Citigroup lifted their price target on shares of Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Bank of America dropped their target price on Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday. Robert W. Baird cut their price target on Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective for the company in a research note on Friday, December 6th. Finally, Oppenheimer upped their target price on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Two 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.07.

Asana Stock Down 8.5 %

Shares of NYSE:ASAN opened at $16.69 on Tuesday. The company has a 50 day moving average of $20.55 and a two-hundred day moving average of $16.87. Asana has a 52-week low of $11.05 and a 52-week high of $27.77. 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 capitalization of $3.82 billion, a price-to-earnings ratio of -14.90 and a beta of 1.13.

Insider Activity at Asana

In other news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.71, for a total transaction of $591,228.43. Following the completion of the sale, the chief operating officer now owns 733,855 shares in the company, 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 is accessible through this hyperlink. Also, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total value 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. This represents a 6.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 723,300 shares of company stock worth $15,161,068 over the last quarter. 63.97% of the stock is currently owned by company insiders.

Institutional Trading of Asana

Hedge funds have recently modified their holdings of the business. Brooklyn FI LLC acquired a new position in Asana in the 4th quarter worth about $8,138,000. Vise Technologies Inc. grew its stake in shares of Asana by 6.5% in the 4th quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock valued at $320,000 after buying an additional 959 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Asana by 12.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 226,025 shares of the company’s stock worth $4,582,000 after buying an additional 25,607 shares during the last quarter. Voloridge Investment Management LLC raised its position in Asana by 25.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock valued at $43,574,000 after acquiring an additional 438,057 shares in the last quarter. Finally, Woodline Partners LP bought a new position in Asana during the fourth quarter valued at approximately $1,745,000. Hedge funds and other 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.