Asana (NYSE:ASAN) Shares Gap Up After Analyst Upgrade

Asana, Inc. (NYSE:ASAN) shares gapped up prior to trading on Monday after Jefferies Financial Group raised their price target on the stock from $16.00 to $19.00. The stock had previously closed at $20.61, but opened at $22.50. Jefferies Financial Group currently has a hold rating on the stock. Asana shares last traded at $22.48, with a volume of 672,776 shares trading hands.

Other equities analysts have also recently issued research reports about the company. Scotiabank raised 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. Robert W. Baird lifted their price target 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. Morgan Stanley boosted their price target on shares of Asana from $14.00 to $18.00 and gave the stock 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 target price on shares of Asana in a report on Friday, December 6th. Finally, DA Davidson upped their target price on shares of Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.27.

Insiders Place Their Bets

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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC increased its position in shares of Asana by 327.9% during the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after acquiring an additional 2,220 shares in the last quarter. KBC Group NV increased its holdings in Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after purchasing an additional 1,211 shares in the last quarter. Quest Partners LLC bought a new position in Asana during the 3rd quarter worth about $43,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Asana in the 2nd quarter valued at about $65,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Asana by 26.0% in 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 in the last quarter. Institutional investors own 26.21% of the company’s stock.

Asana Stock Down 6.5 %

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of -18.21 and a beta of 1.10. The firm has a 50-day moving average price of $18.09 and a two-hundred day moving average price of $14.72.

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.