Washington Capital Management Inc. Reduces Position in Asana, Inc. (NYSE:ASAN)

Washington Capital Management Inc. decreased its stake in Asana, Inc. (NYSE:ASAN) by 67.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,500 shares of the company’s stock after selling 22,000 shares during the period. Washington Capital Management Inc.’s holdings in Asana were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in shares of Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after buying an additional 427,576 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Asana during the second quarter worth $3,159,000. Holocene Advisors LP increased its holdings in Asana by 62.2% in the 3rd quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock valued at $3,537,000 after acquiring an additional 116,998 shares during the last quarter. Neo Ivy Capital Management lifted its stake in Asana by 195.1% in the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock worth $1,964,000 after purchasing an additional 112,038 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Asana by 103.0% during the 3rd quarter. Barclays PLC now owns 165,753 shares of the company’s stock valued at $1,920,000 after purchasing an additional 84,114 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors.

Asana Stock Down 1.0 %

Shares of NYSE:ASAN opened at $21.77 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The business has a 50 day simple moving average of $19.95 and a two-hundred day simple moving average of $15.40. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The firm has a market capitalization of $4.98 billion, a PE ratio of -19.43 and a beta of 1.10.

Wall Street Analysts Forecast Growth

ASAN has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target 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 raised their target price on shares of Asana from $16.00 to $19.00 and gave the company a “hold” rating in a report on Monday, January 6th. Oppenheimer upped their price target on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. KeyCorp upgraded shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective for the company in a research report on Friday, December 6th. Finally, JMP Securities boosted their target price on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.73.

Insider Activity at Asana

In other news, COO Anne Raimondi sold 27,233 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $21.71, for a total transaction of $591,228.43. Following the transaction, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Justin Rosenstein sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total value of $3,001,500.00. Following the completion of the sale, the director now owns 2,047,309 shares of the company’s stock, valued at $40,966,653.09. The trade was a 6.83 % decrease in their position. The disclosure for this sale can be found here. 63.97% of the stock is owned by company insiders.

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.