Asana (NYSE:ASAN) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Asana (NYSE:ASAN) from a neutral rating to an overweight rating in a research note issued to investors on Monday morning, Marketbeat reports. They currently have $27.00 target price on the stock, up from their previous target price of $19.00.

ASAN has been the subject of several other research reports. Royal Bank of Canada reissued an “underperform” rating and set a $10.00 target price on shares of Asana in a research note on Friday, December 6th. Jefferies Financial Group upped their price objective on Asana from $13.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, December 6th. DA Davidson upped their price objective on Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. JMP Securities upped their price objective on Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday, December 6th. Finally, Morgan Stanley upped their price objective on Asana from $14.00 to $18.00 and gave the company an “equal weight” 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, Asana has an average rating of “Hold” and an average target price of $17.27.

Asana Stock Down 3.9 %

Shares of NYSE ASAN opened at $19.56 on Monday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a market cap of $4.47 billion, a price-to-earnings ratio of -17.46 and a beta of 1.10. Asana has a 12 month low of $11.05 and a 12 month high of $27.77. The stock has a 50-day moving average price of $18.23 and a two-hundred day moving average price of $14.75.

Insiders Place Their Bets

In other Asana news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at approximately $15,931,992.05. This represents a 3.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

A number of institutional investors and hedge funds have recently modified their holdings of ASAN. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Asana by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock worth $238,000 after buying an additional 1,769 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Asana by 2.2% in the 2nd quarter. Rhumbline Advisers now owns 115,958 shares of the company’s stock worth $1,622,000 after purchasing an additional 2,464 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Asana by 3.6% in the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock worth $327,000 after purchasing an additional 803 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Asana by 26.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after purchasing an additional 1,028 shares in the last quarter. Finally, Headlands Technologies LLC lifted its holdings in shares of Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after purchasing an additional 2,220 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors.

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.