Jefferies Financial Group Issues Pessimistic Forecast for Asana (NYSE:ASAN) Stock Price

Asana (NYSE:ASAN) had its price objective cut by Jefferies Financial Group from $19.00 to $15.00 in a report published on Tuesday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other research analysts also recently issued reports on ASAN. DA Davidson lifted their price objective on shares of Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley lifted their price objective on shares of Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $27.00 price objective on shares of Asana in a research report on Thursday, February 6th. Bank of America cut their price objective on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 price objective on shares of Asana in a research report 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 assigned a buy rating to the company. According to data from MarketBeat.com, Asana has an average rating of “Hold” and a consensus price target of $15.87.

Asana Trading Down 3.9 %

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

Insiders Place Their Bets

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 completion of the transaction, the director now directly 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 legal filing with the SEC, which is accessible through this hyperlink. Also, COO Anne Raimondi sold 27,233 shares of the 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 completion of the sale, the chief operating officer now owns 733,855 shares of the company’s stock, valued at $15,931,992.05. This trade represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 723,300 shares of company stock worth $15,161,068. Company insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

A number of hedge funds have recently modified their holdings of ASAN. Quarry LP purchased a new stake in shares of Asana in the fourth quarter valued at about $29,000. KBC Group NV grew its holdings in shares of Asana by 52.1% in 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 during the period. Quest Partners LLC purchased a new stake in shares of Asana in the third quarter valued at about $43,000. Bogart Wealth LLC purchased a new stake in shares of Asana in the fourth quarter valued at about $61,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Asana in the fourth quarter valued at about $82,000. Hedge funds and other 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.