Asana (NYSE:ASAN) Price Target Cut to $14.00 by Analysts at Morgan Stanley

Asana (NYSE:ASAN) had its price target trimmed by Morgan Stanley from $15.00 to $14.00 in a research note published on Wednesday, MarketBeat.com reports. The brokerage currently has an equal weight rating on the stock.

A number of other analysts have also commented on ASAN. Piper Sandler cut their price objective on shares of Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. DA Davidson decreased their price objective on Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. dropped their target price on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Tuesday, March 11th. Jefferies Financial Group decreased their price target on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. Finally, UBS Group dropped their price objective on Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. 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. According to MarketBeat.com, Asana currently has a consensus rating of “Hold” and an average price target of $15.60.

Asana Trading Down 4.2 %

NYSE ASAN opened at $15.03 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 stock’s 50 day moving average price is $17.17 and its two-hundred day moving average price is $17.20. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of -13.42 and a beta of 1.23.

Insider Activity at Asana

In other news, Director Justin Rosenstein sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the completion of the sale, the director now owns 2,047,309 shares in the company, valued at $40,966,653.09. The trade was a 6.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Dustin A. Moskovitz bought 225,000 shares of the stock in a transaction dated Thursday, April 10th. The shares were purchased at an average price of $15.64 per share, for a total transaction of $3,519,000.00. Following the purchase, the chief executive officer now owns 51,272,943 shares of the company’s stock, valued at $801,908,828.52. This trade represents a 0.44 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 2,024,507 shares of company stock worth $29,233,743 and have sold 739,842 shares worth $15,155,503. 63.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Asana

Several institutional investors and hedge funds have recently modified their holdings of ASAN. Quarry LP bought a new stake in Asana in the 4th quarter valued at about $29,000. Bogart Wealth LLC acquired a new stake in Asana during the fourth quarter worth approximately $61,000. SBI Securities Co. Ltd. bought a new position in Asana during the 4th quarter worth $82,000. KBC Group NV raised its holdings in Asana by 58.8% in the 4th quarter. KBC Group NV now owns 5,612 shares of the company’s stock valued at $114,000 after acquiring an additional 2,078 shares in the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Asana during the 4th quarter valued at $135,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.