Citigroup Boosts Asana (NYSE:ASAN) Price Target to $20.00

Asana (NYSE:ASAN) had its price target increased by Citigroup from $16.00 to $20.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts also recently issued reports about the company. Scotiabank upped their price target on Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. Jefferies Financial Group boosted their target price on Asana from $16.00 to $19.00 and gave the company a “hold” rating in a report on Monday, January 6th. JMP Securities upped their price objective on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research report 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 report on Friday, December 6th. Finally, Robert W. Baird boosted their target price on shares of Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Asana presently has a consensus rating of “Hold” and a consensus target price of $17.73.

Asana Stock Down 2.1 %

Asana stock opened at $19.40 on Thursday. The company has a market capitalization of $4.44 billion, a PE ratio of -17.32 and a beta of 1.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The firm has a 50 day moving average price of $19.09 and a 200 day moving average price of $15.04.

Insider Buying and Selling

In other Asana news, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction that occurred 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 in the company, valued at approximately $15,931,992.05. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

A number of large investors have recently made changes to their positions in ASAN. Point72 Asset Management L.P. acquired a new stake in shares of Asana in the second quarter worth $17,100,000. JPMorgan Chase & Co. boosted its position in shares of Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after acquiring an additional 427,576 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Asana in the 2nd quarter worth approximately $5,169,000. Marshall Wace LLP acquired a new stake in Asana in the 2nd quarter valued at $3,159,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Asana during the 2nd quarter worth about $3,050,000. 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.