Insider Selling: Asana, Inc. (NYSE:ASAN) COO Sells 27,233 Shares of Stock

Asana, Inc. (NYSE:ASAN) COO Anne Raimondi sold 27,233 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.71, for a total value of $591,228.43. Following the completion of the transaction, the chief operating officer now owns 733,855 shares of the company’s stock, valued at $15,931,992.05. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Asana Stock Performance

NYSE:ASAN opened at $21.59 on Friday. The firm has a market capitalization of $4.94 billion, a P/E ratio of -19.28 and a beta of 1.22. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The company has a fifty day moving average of $16.89 and a 200-day moving average of $14.29. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On Asana

Several institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC grew its stake in shares of Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after buying an additional 2,220 shares during the period. KBC Group NV grew its stake in Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after acquiring an additional 1,211 shares during the period. Quest Partners LLC bought a new stake in shares of Asana during the third quarter valued at approximately $43,000. Redwood Wealth Management Group LLC acquired a new position in shares of Asana during the second quarter worth approximately $65,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Asana by 26.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after purchasing an additional 1,028 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

ASAN has been the topic of a number of recent research reports. DA Davidson lifted their price target on Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on shares of Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Citigroup dropped their price target on shares of Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Royal Bank of Canada reissued an “underperform” rating and issued a $10.00 price objective on shares of Asana in a research note on Friday, December 6th. Finally, Morgan Stanley raised their target price on Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.53.

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.