Asana (NYSE:ASAN) Price Target Raised to $15.00 at JPMorgan Chase & Co.

Asana (NYSE:ASAN) had its price target raised by JPMorgan Chase & Co. from $13.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other research analysts have also recently commented on ASAN. Jefferies Financial Group raised their target price on Asana from $13.00 to $16.00 and gave the company a “hold” rating in a research note on Friday. UBS Group decreased their price target on shares of Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective on the stock in a research note on Friday. JMP Securities raised their target price on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday. Finally, DA Davidson boosted their price target on Asana from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.53.

Asana Stock Performance

NYSE:ASAN opened at $22.20 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14. Asana has a twelve month low of $11.05 and a twelve month high of $22.54. The stock has a market cap of $5.06 billion, a P/E ratio of -19.30 and a beta of 1.22. The firm’s fifty day simple moving average is $13.17 and its 200 day simple moving average is $13.25.

Asana (NYSE:ASAN) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The business had revenue of $179.21 million during the quarter, compared to analyst estimates of $177.68 million. During the same period last year, the business posted ($0.31) earnings per share. Asana’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, research analysts predict that Asana will post -1.14 EPS for the current year.

Insider Activity

In other news, insider Eleanor B. Lacey sold 4,977 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $58,678.83. Following the completion of the sale, the insider now directly owns 370,333 shares of the company’s stock, valued at $4,366,226.07. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the completion of the transaction, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at $9,125,445.12. This represents a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,092 shares of company stock valued at $527,668 in the last 90 days. Company insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ASAN. Neo Ivy Capital Management increased its stake in Asana by 195.1% in the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock worth $1,964,000 after acquiring an additional 112,038 shares during the last quarter. Geode Capital Management LLC grew its position in Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock worth $21,605,000 after acquiring an additional 12,055 shares in the last quarter. Barclays PLC raised its position in Asana by 103.0% during the third quarter. Barclays PLC now owns 165,753 shares of the company’s stock valued at $1,920,000 after purchasing an additional 84,114 shares during the period. XTX Topco Ltd bought a new position in shares of Asana during the 3rd quarter valued at approximately $538,000. Finally, Quadrature Capital Ltd purchased a new stake in Asana during the 3rd quarter valued at $189,000. 26.21% of the stock is owned by hedge funds and other 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.