Asana (NYSE:ASAN) Upgraded to Overweight at Piper Sandler

Asana (NYSE:ASAN) was upgraded by investment analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Monday,Benzinga reports. The brokerage presently has a $27.00 price objective on the stock, up from their prior price objective of $19.00. Piper Sandler’s target price indicates a potential upside of 31.00% from the company’s current price.

ASAN has been the subject of several other reports. Morgan Stanley upped their target price on shares of Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 price objective on shares of Asana in a research report on Friday, December 6th. Oppenheimer boosted their price target on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Robert W. Baird upped their price target on Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.07.

Asana Stock Up 3.8 %

Shares of ASAN stock opened at $20.61 on Monday. Asana has a 12 month low of $11.05 and a 12 month 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 firm has a market cap of $4.71 billion, a PE ratio of -18.40 and a beta of 1.10. The stock has a 50 day moving average of $17.72 and a 200-day moving average of $14.60.

Insider Activity at Asana

In related news, COO Anne Raimondi sold 27,233 shares of the firm’s 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 63.97% of the stock is currently owned by insiders.

Institutional Trading of Asana

Several large investors have recently made changes to their positions in ASAN. Arizona State Retirement System lifted its position in Asana by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock worth $327,000 after buying an additional 803 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Asana by 26.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after purchasing an additional 1,028 shares during the last quarter. KBC Group NV increased its holdings in shares of Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after purchasing an additional 1,211 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Asana by 11.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock worth $238,000 after purchasing an additional 1,769 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Asana by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock worth $687,000 after buying an additional 1,888 shares in the last quarter. 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.