Asana, Inc. (NYSE:ASAN) Position Decreased by Cresset Asset Management LLC

Cresset Asset Management LLC reduced its holdings in Asana, Inc. (NYSE:ASAN) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,719 shares of the company’s stock after selling 2,982 shares during the quarter. Cresset Asset Management LLC’s holdings in Asana were worth $2,062,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ASAN. Quarry LP acquired a new stake in shares of Asana during the 4th quarter valued at $29,000. KBC Group NV boosted its position in shares of Asana by 58.8% in the 4th quarter. KBC Group NV now owns 5,612 shares of the company’s stock valued at $114,000 after purchasing an additional 2,078 shares during the period. MetLife Investment Management LLC increased its stake in Asana by 5.7% in 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 in the last quarter. Handelsbanken Fonder AB raised its holdings in Asana by 19.0% during the 4th quarter. Handelsbanken Fonder AB now owns 18,200 shares of the company’s stock worth $369,000 after buying an additional 2,900 shares during the period. Finally, Bogart Wealth LLC purchased a new stake in Asana during the fourth quarter valued at about $61,000. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Price Performance

NYSE ASAN opened at $17.21 on Friday. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The stock’s 50-day moving average is $15.32 and its two-hundred day moving average is $17.67. The firm has a market cap of $4.01 billion, a P/E ratio of -15.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ASAN shares. Scotiabank cut their price target on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a report on Tuesday, March 11th. DA Davidson cut their target price on shares of Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. JPMorgan Chase & Co. decreased their target price on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research report on Tuesday, March 11th. Citigroup increased their price objective on Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley lowered their target price on Asana from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.53.

Insiders Place Their Bets

In other news, COO Anne Raimondi sold 18,775 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $14.03, for a total value of $263,413.25. Following the completion of the transaction, the chief operating officer now owns 716,580 shares in the company, valued at approximately $10,053,617.40. This represents a 2.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Justin Rosenstein sold 150,000 shares of Asana stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $19.76, for a total transaction of $2,964,000.00. Following the sale, the director now owns 1,097,309 shares in the company, valued at approximately $21,682,825.84. This trade represents a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders bought 2,074,507 shares of company stock valued at $30,025,743 and sold 193,775 shares valued at $3,549,663. Company insiders own 63.97% of the company’s stock.

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.