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 business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.71, for a total value of $591,228.43. Following the transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at $15,931,992.05. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Asana Price Performance

Shares of ASAN stock traded up $0.75 during midday trading on Thursday, reaching $22.73. 4,450,760 shares of the company were exchanged, compared to its average volume of 2,323,919. The company’s 50 day moving average price is $16.49 and its two-hundred day moving average price is $14.18. The company has a market cap of $5.20 billion, a P/E ratio of -20.29 and a beta of 1.22. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49.

Institutional Investors Weigh In On Asana

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in Asana by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock valued at $327,000 after purchasing an additional 803 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake 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 buying an additional 1,028 shares in the last quarter. KBC Group NV grew its holdings 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 acquiring an additional 1,211 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Asana by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock worth $238,000 after acquiring an additional 1,769 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Asana by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock valued at $687,000 after acquiring an additional 1,888 shares during the last quarter. Institutional investors own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Robert W. Baird upped their target price on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. raised their target price on Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Jefferies Financial Group lifted their target price on Asana from $13.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Piper Sandler lifted their target price on Asana from $12.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Citigroup dropped their price target on Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.