Asana (NYSE:ASAN) Downgraded to Underweight Rating by Morgan Stanley

Morgan Stanley lowered shares of Asana (NYSE:ASAN - Free Report) from an equal weight rating to an underweight rating in a report released on Tuesday morning, MarketBeat reports. The brokerage currently has $14.00 target price on the stock.

Several other research analysts have also recently weighed in on the company. JMP Securities set a $22.00 price objective on Asana in a research report on Tuesday, March 11th. Bank of America dropped their target price on Asana from $30.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price target on Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a research report on Tuesday, March 11th. Jefferies Financial Group decreased their target price on Asana from $19.00 to $15.00 and set a "hold" rating on the stock in a research report on Tuesday, March 11th. Finally, Robert W. Baird lowered their price objective on Asana from $23.00 to $13.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Asana currently has an average rating of "Hold" and a consensus target price of $15.53.

Asana Trading Down 1.3%

Shares of NYSE:ASAN traded down $0.23 during trading on Tuesday, hitting $17.47. 1,411,821 shares of the company's stock were exchanged, compared to its average volume of 2,795,655. 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 cap of $4.07 billion, a P/E ratio of -15.60 and a beta of 1.21. The firm has a 50-day moving average price of $15.83 and a two-hundred day moving average price of $18.09. Asana has a 1-year low of $11.05 and a 1-year high of $27.77.

Insiders Place Their Bets

In other Asana news, Director Justin Rosenstein sold 150,000 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $19.76, for a total value of $2,964,000.00. Following the transaction, the director now directly owns 1,097,309 shares of the company's stock, valued at approximately $21,682,825.84. This trade represents a 12.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dustin A. Moskovitz bought 225,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $12.91 per share, with a total value of $2,904,750.00. Following the completion of the transaction, the chief executive officer now owns 48,123,436 shares of the company's stock, valued at $621,273,558.76. This represents a 0.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 2,074,507 shares of company stock worth $30,025,743 and have sold 193,775 shares worth $3,549,663. Corporate insiders own 61.28% of the company's stock.

Institutional Trading of Asana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASAN. Banque Cantonale Vaudoise bought a new position in shares of Asana in the first quarter valued at approximately $28,000. Quarry LP bought a new position in Asana during the 4th quarter valued at $29,000. AlphaQuest LLC boosted its holdings in Asana by 825.1% during the 1st quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock worth $36,000 after acquiring an additional 2,203 shares during the last quarter. Bogart Wealth LLC purchased a new position in Asana during the 4th quarter worth $61,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Asana in the 4th quarter worth $82,000. 26.21% of the stock is 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.