Asana, Inc. (NYSE:ASAN) COO Anne Raimondi Sells 27,233 Shares

Asana, Inc. (NYSE:ASAN) COO Anne Raimondi sold 27,233 shares of the firm’s 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 sale, the chief operating officer now owns 733,855 shares in the company, valued at $15,931,992.05. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Asana Trading Down 5.0 %

Shares of ASAN opened at $21.59 on Friday. The business’s 50-day moving average price is $16.89 and its 200 day moving average price is $14.30. 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 stock 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 1-year low of $11.05 and a 1-year high of $27.77.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in Asana by 3.6% in the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock worth $327,000 after purchasing an additional 803 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Asana by 26.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after buying an additional 1,028 shares during the period. KBC Group NV grew its holdings in shares of Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after buying an additional 1,211 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Asana by 11.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock valued at $238,000 after buying an additional 1,769 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Asana by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock worth $687,000 after acquiring an additional 1,888 shares in the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ASAN shares. Citigroup cut their price objective on shares of Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Scotiabank lifted their price target on Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. Royal Bank of Canada reissued an “underperform” rating and issued a $10.00 price objective on shares of Asana in a report on Friday, December 6th. Jefferies Financial Group boosted their price target on Asana from $13.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, Bank of America decreased their price target on Asana from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.