Asana (NYSE:ASAN) Given New $20.00 Price Target at Citigroup

Asana (NYSE:ASAN) had its target price upped by stock analysts at Citigroup from $16.00 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 1.19% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. Morgan Stanley lifted their price target 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. JMP Securities increased their price target on Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday, December 6th. Oppenheimer lifted their price objective on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Robert W. Baird raised their target price on Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 price target on shares of Asana in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $17.73.

Asana Trading Up 0.5 %

Shares of ASAN traded up $0.10 during trading hours on Thursday, hitting $19.77. 966,457 shares of the stock traded hands, compared to its average volume of 2,802,316. The business has a fifty day moving average of $18.87 and a 200-day moving average of $14.97. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $4.52 billion, a PE ratio of -17.67 and a beta of 1.10. Asana has a 1-year low of $11.05 and a 1-year high of $27.77.

Insider Buying and Selling

In related news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.71, for a total transaction of $591,228.43. Following the completion of the transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at approximately $15,931,992.05. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

A number of hedge funds and other institutional investors have recently made changes to their positions in ASAN. JPMorgan Chase & Co. lifted its position in Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after buying an additional 427,576 shares in the last quarter. XTX Topco Ltd bought a new position in Asana in the third quarter valued at approximately $538,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Asana during the 2nd quarter worth approximately $3,050,000. Neo Ivy Capital Management boosted its holdings in shares of Asana by 195.1% in the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock valued at $1,964,000 after buying an additional 112,038 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Asana in the second quarter valued at $17,100,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.