Asana, Inc. (NYSE:ASAN) COO Sells $591,228.43 in Stock

Asana, Inc. (NYSE:ASAN) COO Anne Raimondi sold 27,233 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.71, for a total value 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 trade represents a 3.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Asana Trading Up 3.4 %

Shares of ASAN stock traded up $0.75 during trading hours on Thursday, hitting $22.73. 4,450,760 shares of the company were exchanged, compared to its average volume of 2,323,919. The firm has a fifty day moving average of $16.49 and a 200 day moving average of $14.18. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The firm has a market cap of $5.20 billion, a PE ratio of -20.29 and a beta of 1.22.

Hedge Funds Weigh In On Asana

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC grew its position in Asana by 327.9% during the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after acquiring an additional 2,220 shares during the period. KBC Group NV raised its stake in shares of Asana by 52.1% in the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after acquiring an additional 1,211 shares during the period. Quest Partners LLC purchased a new position in shares of Asana in the 3rd quarter valued at $43,000. Redwood Wealth Management Group LLC acquired a new position in shares of Asana during the 2nd quarter valued at $65,000. Finally, Daiwa Securities Group Inc. boosted its position in Asana by 26.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after purchasing an additional 1,028 shares during the period. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ASAN. Oppenheimer boosted their target price on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. DA Davidson boosted their price objective on shares of Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. UBS Group dropped their target price on shares of Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. increased their price target on shares of Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Finally, Bank of America lowered their price target on shares of Asana from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.53.

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.