Insider Selling: Asana, Inc. (NYSE:ASAN) COO Sells $263,413.25 in Stock

Asana, Inc. (NYSE:ASAN) COO Anne Raimondi sold 18,775 shares of Asana stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.03, for a total value of $263,413.25. Following the transaction, the chief operating officer now directly owns 716,580 shares in the company, valued at approximately $10,053,617.40. The trade was a 2.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Asana Stock Performance

Shares of NYSE:ASAN opened at $15.21 on Thursday. The firm has a fifty day simple moving average of $19.16 and a two-hundred day simple moving average of $16.89. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $3.48 billion, a P/E ratio of -13.58 and a beta of 1.13.

Analyst Ratings Changes

Several brokerages have weighed in on ASAN. Oppenheimer lifted their price target on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Morgan Stanley dropped their target price on shares of Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. UBS Group cut their price target on Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lowered their price objective on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 11th. Finally, Robert W. Baird cut their target price on Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Asana presently has a consensus rating of “Hold” and an average price target of $15.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vise Technologies Inc. lifted its stake in shares of Asana by 6.5% in the 4th quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock valued at $320,000 after purchasing an additional 959 shares during the last quarter. KBC Group NV boosted 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 buying an additional 1,211 shares during the period. Quarry LP purchased a new stake in shares of Asana in the fourth quarter valued at $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Asana by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,218 shares of the company’s stock worth $937,000 after acquiring an additional 2,538 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Asana by 5.7% during the 4th quarter. MetLife Investment Management LLC now owns 49,483 shares of the company’s stock worth $1,003,000 after purchasing an additional 2,668 shares during the period. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.