Robert W. Baird Cuts Asana (NYSE:ASAN) Price Target to $13.00

Asana (NYSE:ASAN) had its price target dropped by stock analysts at Robert W. Baird from $23.00 to $13.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential downside of 22.11% from the stock’s current price.

A number of other research analysts also recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Bank of America lowered their price target on Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a report 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 report on Friday, December 6th. DA Davidson boosted their price target on Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. increased 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. Two 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. Based on data from MarketBeat.com, Asana has an average rating of “Hold” and an average target price of $17.07.

Asana Price Performance

Shares of NYSE:ASAN opened at $16.69 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of -14.90 and a beta of 1.13. The business has a 50-day simple moving average of $20.55 and a two-hundred day simple moving average of $16.87. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $27.77.

Insider Buying and Selling

In related news, COO Anne Raimondi sold 27,233 shares of the business’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 transaction, the chief operating officer now directly owns 733,855 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $19.76, for a total value of $2,964,000.00. Following the completion of the transaction, the director now owns 1,097,309 shares of the company’s stock, valued at $21,682,825.84. The trade was a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 723,300 shares of company stock valued at $15,161,068. Company insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

Hedge funds have recently modified their holdings of the stock. Quarry LP bought a new stake in Asana in the 4th quarter valued at $29,000. Bogart Wealth LLC bought a new position in shares of Asana during the 4th quarter valued at about $61,000. KBC Group NV grew its position in shares of Asana by 52.1% during 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. Quest Partners LLC purchased a new stake in shares of Asana in the third quarter worth about $43,000. Finally, SBI Securities Co. Ltd. bought a new position in Asana during the fourth quarter valued at approximately $82,000. Hedge funds and other institutional investors 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.