Asana, Inc. (NYSE:ASAN) Shares Sold by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. lessened its stake in Asana, Inc. (NYSE:ASAN) by 5.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 14,657 shares of the company’s stock after selling 925 shares during the period. Retirement Planning Co of New England Inc.’s holdings in Asana were worth $297,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV grew 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 worth $41,000 after acquiring an additional 1,211 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Asana in the third quarter worth $43,000. Bogart Wealth LLC acquired a new position in shares of Asana in the fourth quarter worth $61,000. SBI Securities Co. Ltd. acquired a new position in shares of Asana in the fourth quarter worth $82,000. Finally, Paloma Partners Management Co acquired a new position in shares of Asana in the third quarter worth $143,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Insider Activity at Asana

In other news, COO Anne Raimondi sold 27,233 shares of the company’s stock in a transaction dated 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 directly owns 733,855 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justin Rosenstein sold 200,000 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $21.67, for a total transaction of $4,334,000.00. Following the completion of the sale, the director now directly owns 1,847,309 shares of the company’s stock, valued at $40,031,186.03. The trade was a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 748,300 shares of company stock valued at $15,483,318 over the last ninety days. Insiders own 63.97% of the company’s stock.

Asana Price Performance

Shares of ASAN opened at $14.03 on Tuesday. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The stock has a market cap of $3.21 billion, a PE ratio of -12.52 and a beta of 1.13. 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 firm has a fifty day moving average price of $19.83 and a 200 day moving average price of $16.84.

Analyst Upgrades and Downgrades

Several research firms have commented on ASAN. KeyCorp upgraded shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target for the company in a research note on Friday, December 6th. Oppenheimer lifted their price objective on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Robert W. Baird decreased their price objective on shares of Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 price objective on shares of Asana in a research report on Friday, December 6th. Finally, Morgan Stanley decreased their price objective on shares of Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.87.

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.