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

Asana (NYSE:ASAN) had its price objective boosted by stock analysts 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 price target points to a potential downside of 6.82% from the stock’s current price.

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

Asana Trading Down 6.5 %

ASAN opened at $20.39 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The company’s 50 day moving average price is $18.09 and its two-hundred day moving average price is $14.72. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of -18.21 and a beta of 1.10.

Insider Buying and Selling at Asana

In other Asana news, COO Anne Raimondi sold 27,233 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

Large investors have recently modified their holdings of the company. Arizona State Retirement System increased its stake in Asana by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock valued at $327,000 after purchasing an additional 803 shares in the last quarter. Daiwa Securities Group Inc. increased its position 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 worth $70,000 after acquiring an additional 1,028 shares in the last quarter. KBC Group NV raised its holdings in shares of Asana by 52.1% in the 3rd 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. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of 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 acquiring an additional 1,769 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Asana by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock valued at $687,000 after acquiring an additional 1,888 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors.

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.