Asana, Inc. (NYSE:ASAN) COO Sells $263,413.25 in Stock

Asana, Inc. (NYSE:ASAN) COO Anne Raimondi sold 18,775 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total value of $263,413.25. Following the completion of the sale, the chief operating officer now owns 716,580 shares in the company, valued at approximately $10,053,617.40. The trade was a 2.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Asana Stock Down 1.3 %

NYSE:ASAN opened at $15.21 on Thursday. The company’s 50-day simple moving average is $19.16 and its 200-day simple moving average is $16.89. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The stock has a market capitalization of $3.48 billion, a P/E ratio of -13.58 and a beta of 1.13.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Robert W. Baird cut their price target on shares of Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. DA Davidson reduced their target price on shares of Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Piper Sandler decreased their price target on shares of Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a research note 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, Jefferies Financial Group lowered their target price on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Asana currently has an average rating of “Hold” and an average price target of $15.67.

Hedge Funds Weigh In On Asana

Several institutional investors and hedge funds have recently bought and sold shares of ASAN. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Asana during the 4th quarter valued at $38,966,000. Paradice Investment Management LLC purchased a new stake in Asana in the fourth quarter valued at about $22,507,000. Two Sigma Investments LP boosted its holdings in Asana by 288.1% in the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock worth $28,481,000 after acquiring an additional 1,043,047 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after acquiring an additional 937,726 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Asana in the 4th quarter valued at approximately $11,781,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

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.