Robert W. Baird Forecasts Strong Price Appreciation for Asana (NYSE:ASAN) Stock

Asana (NYSE:ASAN) had its price target raised by equities researchers at Robert W. Baird from $13.00 to $19.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective indicates a potential downside of 14.38% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. Royal Bank of Canada reissued an “underperform” rating and issued a $10.00 price objective on shares of Asana in a report on Wednesday, October 23rd. Oppenheimer reduced their price target on shares of Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Scotiabank assumed coverage on Asana in a research report on Monday, November 18th. They issued a “sector perform” rating and a $15.00 price objective for the company. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 target price on the stock in a research report on Friday. Finally, JMP Securities lowered their price target on Asana from $27.00 to $21.00 and set a “market outperform” rating for the company in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Asana presently has a consensus rating of “Hold” and a consensus price target of $16.53.

Asana Stock Performance

NYSE ASAN opened at $22.19 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.63. The stock’s fifty day moving average is $13.37 and its two-hundred day moving average is $13.30. The firm has a market capitalization of $5.06 billion, a P/E ratio of -19.81 and a beta of 1.22. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $22.54.

Insider Transactions at Asana

In other Asana news, insider Eleanor B. Lacey sold 4,977 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $58,678.83. Following the sale, the insider now owns 370,333 shares in the company, valued at $4,366,226.07. This represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $357,385.93. Following the completion of the transaction, the chief operating officer now owns 761,088 shares of the company’s stock, valued at $9,125,445.12. The trade was a 3.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,092 shares of company stock valued at $527,668. 63.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Asana

Hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in Asana by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock worth $327,000 after acquiring an additional 803 shares in the last quarter. Diversified Trust Co grew its stake in shares of Asana by 2.6% during the second quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock worth $489,000 after purchasing an additional 900 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in 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 buying an additional 1,028 shares in the last quarter. KBC Group NV lifted 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 buying an additional 1,211 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in 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 during the last quarter. Institutional investors and hedge funds 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.