UBS Group Cuts Asana (NYSE:ASAN) Price Target to $14.00

Asana (NYSE:ASAN) had its target price lowered by investment analysts at UBS Group from $18.00 to $14.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 15.71% from the company’s previous close.

Several other brokerages have also recently weighed in on ASAN. KeyCorp upgraded shares of 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. Jefferies Financial Group reduced their target price on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday. DA Davidson lifted 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. Citigroup lifted their price target on shares of Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Finally, Morgan Stanley lifted their price target 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 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $16.73.

Asana Stock Down 27.5 %

ASAN stock traded down $4.58 during mid-day trading on Tuesday, reaching $12.10. The company had a trading volume of 4,725,902 shares, compared to its average volume of 2,512,973. Asana has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -10.69 and a beta of 1.13. The stock has a 50 day simple moving average of $20.55 and a two-hundred day simple moving average of $16.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Insider Activity

In other Asana news, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the transaction, the director now owns 2,047,309 shares in the company, valued at approximately $40,966,653.09. This represents a 6.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction dated 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 owns 733,855 shares of the company’s stock, valued at $15,931,992.05. This represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 723,300 shares of company stock worth $15,161,068. Company insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

Large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP bought a new position in shares of Asana in the third quarter valued at approximately $497,000. MQS Management LLC purchased a new stake in Asana in the 3rd quarter valued at $141,000. KBC Group NV lifted its stake in Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after acquiring an additional 1,211 shares in the last quarter. Quest Partners LLC purchased a new position in Asana during the 3rd quarter worth $43,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Asana in the 3rd quarter worth $603,000. Institutional investors own 26.21% of the company’s stock.

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.