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

by · The Cerbat Gem

Asana (NYSE:ASAN – Free Report) had its price objective lowered by Robert W. Baird from $23.00 to $13.00 in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. Robert W. Baird currently has a neutral rating on the stock.

ASAN has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their target price on Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Scotiabank raised their price objective on Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Oppenheimer raised their price objective on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. 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 note on Friday, December 6th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $10.00 price objective on shares of Asana in a research note 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 issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.87.

Get Our Latest Stock Analysis on ASAN

Asana Price Performance

ASAN stock opened at $12.88 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. Asana has a 1 year low of $11.05 and a 1 year high of $27.77. The firm has a market cap of $2.95 billion, a P/E ratio of -11.50 and a beta of 1.13. The stock has a 50-day simple moving average of $20.12 and a 200-day simple moving average of $16.81.

Insider Transactions at Asana

In related 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Justin Rosenstein sold 150,000 shares of the firm’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 sale, the director now directly owns 1,097,309 shares in the company, valued at approximately $21,682,825.84. This trade represents a 12.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 723,300 shares of company stock worth $15,161,068. 63.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Asana

Several hedge funds have recently added to or reduced their stakes in ASAN. Arrowstreet Capital Limited Partnership bought a new stake in Asana during the 4th quarter valued at $38,966,000. Paradice Investment Management LLC bought a new stake in Asana during the 4th quarter valued at $22,507,000. Two Sigma Investments LP raised its stake in Asana by 288.1% during the 4th quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock valued at $28,481,000 after acquiring an additional 1,043,047 shares in the last quarter. Voya Investment Management LLC raised its stake in Asana by 8.1% during the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock valued at $254,166,000 after acquiring an additional 937,726 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Asana during the 4th quarter valued at $11,781,000. Institutional investors own 26.21% of the company’s stock.

Asana Company Profile

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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.

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