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

Asana (NYSE:ASAN) had its price target hoisted by equities research analysts at JPMorgan Chase & Co. from $13.00 to $15.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 28.88% from the company’s previous close.

ASAN has been the subject of several other research reports. Robert W. Baird boosted their target price on Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday. Citigroup cut their price target on Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Morgan Stanley dropped their target price on shares of Asana from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 20th. DA Davidson raised their price target on shares of Asana from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, JMP Securities lifted their price target on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.67.

Asana Price Performance

Shares of ASAN stock traded up $5.63 during trading on Friday, hitting $21.09. The company had a trading volume of 10,114,570 shares, compared to its average volume of 2,025,278. The stock’s 50-day moving average price is $13.17 and its 200 day moving average price is $13.25. Asana has a one year low of $11.05 and a one year high of $21.95. 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 firm has a market capitalization of $4.81 billion, a P/E ratio of -18.35 and a beta of 1.22.

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

Insider Transactions at Asana

In related news, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction that occurred on 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 directly owns 761,088 shares in the company, valued at approximately $9,125,445.12. The trade was a 3.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eleanor B. Lacey sold 4,977 shares of Asana 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 transaction, the insider now owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,092 shares of company stock worth $527,668 in the last quarter. Insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

A number of institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System grew its stake in Asana by 3.6% in the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock worth $327,000 after buying an additional 803 shares in the last quarter. Diversified Trust Co grew its position in Asana by 2.6% in the second quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock worth $489,000 after acquiring an additional 900 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Asana by 26.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after purchasing an additional 1,028 shares in the last quarter. KBC Group NV lifted its stake in Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after purchasing an additional 1,211 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Asana by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock valued at $238,000 after purchasing an additional 1,769 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors.

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.