Friedenthal Financial Purchases Shares of 37,599 Asana, Inc. (NYSE:ASAN)

Friedenthal Financial purchased a new position in Asana, Inc. (NYSE:ASAN) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 37,599 shares of the company’s stock, valued at approximately $762,000.

Other large investors have also made changes to their positions in the company. Headlands Technologies LLC increased its stake in Asana by 327.9% during the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after acquiring an additional 2,220 shares during the period. KBC Group NV raised its stake in shares of 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 purchasing an additional 1,211 shares in the last quarter. Quest Partners LLC bought a new position in Asana in the third quarter worth $43,000. Redwood Wealth Management Group LLC acquired a new stake in Asana during the second quarter worth $65,000. Finally, 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 worth $70,000 after buying an additional 1,028 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Robert W. Baird raised their price objective on shares of Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Royal Bank of Canada restated an “underperform” rating and issued a $10.00 price target on shares of Asana in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on shares of Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Morgan Stanley boosted their target price on Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, DA Davidson increased their price target on Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.27.

Insider Activity

In related news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction that occurred 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 63.97% of the stock is currently owned by company insiders.

Asana Trading Down 1.9 %

NYSE ASAN traded down $0.37 during trading hours on Monday, hitting $18.86. The company’s stock had a trading volume of 2,334,471 shares, compared to its average volume of 2,980,179. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The firm has a market capitalization of $4.31 billion, a P/E ratio of -16.84 and a beta of 1.10. 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 fifty day moving average of $18.51 and a 200 day moving average of $14.86.

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.