Morgan Stanley Cuts Asana (NYSE:ASAN) Price Target to $15.00

Asana (NYSE:ASAN) had its price target cut by Morgan Stanley from $18.00 to $15.00 in a research report report published on Wednesday, Marketbeat Ratings reports. They currently have an equal weight rating on the stock.

Other research analysts have also recently issued reports about the stock. Citigroup boosted their target price on shares of Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. dropped their target price on shares of Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Tuesday. Royal Bank of Canada restated an “underperform” rating and set a $10.00 price target on shares of Asana in a research note on Friday, December 6th. Jefferies Financial Group dropped their price target on shares of Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, Piper Sandler dropped their price target on shares of Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.87.

Asana Trading Up 8.0 %

Shares of ASAN stock opened at $13.95 on Wednesday. Asana has a 52-week low of $11.05 and a 52-week high of $27.77. 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 company has a 50-day simple moving average of $19.99 and a two-hundred day simple moving average of $16.80. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -12.45 and a beta of 1.13.

Insider Buying and Selling at Asana

In other Asana news, Director Justin Rosenstein sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $21.67, for a total transaction of $4,334,000.00. Following the completion of the sale, the director now directly owns 1,847,309 shares in the company, valued at approximately $40,031,186.03. This trade represents a 9.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Anne Raimondi sold 27,233 shares of the firm’s 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 sale, the chief operating officer now owns 733,855 shares of the company’s stock, valued at approximately $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. Insiders sold 723,300 shares of company stock valued at $15,161,068 in the last quarter. Company insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

Large investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Asana during the fourth quarter valued at approximately $29,000. KBC Group NV lifted its holdings in 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 position in Asana during the third quarter valued at approximately $43,000. Bogart Wealth LLC purchased a new position in Asana during the fourth quarter valued at approximately $61,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Asana in the fourth quarter worth $82,000. 26.21% of the stock is currently owned by institutional investors.

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.