Stanley Laman Group Ltd. Sells 19,674 Shares of Asana, Inc. (NYSE:ASAN)

Stanley Laman Group Ltd. lessened its holdings in Asana, Inc. (NYSE:ASAN) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 241,649 shares of the company’s stock after selling 19,674 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Asana were worth $4,898,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ASAN. KBC Group NV lifted its position in shares of Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after purchasing an additional 1,211 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Asana in the third quarter worth $43,000. MQS Management LLC acquired a new position in Asana during the third quarter worth $141,000. Paloma Partners Management Co acquired a new position in Asana during the third quarter worth $143,000. Finally, Quadrature Capital Ltd acquired a new position in Asana during the third quarter worth $189,000. Institutional investors own 26.21% of the company’s stock.

Insider Activity at Asana

In other Asana news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.71, for a total transaction 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 represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Justin Rosenstein sold 196,067 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $21.78, for a total transaction of $4,270,339.26. Following the completion of the sale, the director now owns 1,651,242 shares in the company, valued at approximately $35,964,050.76. The trade was a 10.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 573,300 shares of company stock worth $12,197,068. Corporate insiders own 63.97% of the company’s stock.

Asana Trading Up 2.2 %

ASAN stock opened at $22.85 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The company’s 50-day simple moving average is $21.31 and its 200 day simple moving average is $15.92. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a market capitalization of $5.23 billion, a PE ratio of -20.40 and a beta of 1.11.

Analyst Ratings Changes

ASAN has been the topic of a number of recent analyst reports. Robert W. Baird boosted their target price on shares of Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Oppenheimer boosted their target price on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Jefferies Financial Group boosted their target price on shares of Asana from $16.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on shares of Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $10.00 target price on shares of Asana in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Asana has an average rating of “Hold” and an average target price of $17.73.

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.