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

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

Asana Stock Performance

ASAN traded up $0.62 during trading on Monday, reaching $15.07. 2,626,223 shares of the company’s stock were exchanged, compared to its average volume of 2,578,230. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The company has a market capitalization of $3.45 billion, a P/E ratio of -13.45 and a beta of 1.13. 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 business has a 50 day moving average price of $19.32 and a 200 day moving average price of $16.88.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ASAN. Bank of America lowered their price objective on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Oppenheimer boosted their price target on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Piper Sandler cut their price objective on Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. lowered their target price on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 11th. Finally, KeyCorp raised 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. Two investment 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.67.

Institutional Trading of Asana

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

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.