Traders Purchase High Volume of Call Options on Asana (NYSE:ASAN)

Asana, Inc. (NYSE:ASAN) was the target of some unusual options trading activity on Friday. Investors acquired 7,481 call options on the company. This represents an increase of 60% compared to the average volume of 4,683 call options.

Insider Activity

In other Asana news, insider Eleanor B. Lacey sold 4,462 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $15.47, for a total value of $69,027.14. Following the sale, the insider now directly owns 220,739 shares in the company, valued at $3,414,832.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Tim M. Wan sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the completion of the transaction, the chief financial officer now owns 753,888 shares in the company, valued at approximately $11,308,320. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Eleanor B. Lacey sold 4,462 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $15.47, for a total transaction of $69,027.14. Following the completion of the transaction, the insider now directly owns 220,739 shares in the company, valued at $3,414,832.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,462 shares of company stock worth $369,027. 63.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Asana

A number of large investors have recently modified their holdings of the business. Barclays PLC grew its stake in shares of Asana by 14.3% during the 3rd quarter. Barclays PLC now owns 38,635 shares of the company’s stock worth $707,000 after purchasing an additional 4,821 shares during the period. Swiss National Bank grew its position in Asana by 12.3% during the third quarter. Swiss National Bank now owns 173,300 shares of the company’s stock worth $3,173,000 after buying an additional 19,000 shares during the period. Janney Montgomery Scott LLC acquired a new position in Asana during the third quarter worth about $184,000. Charles Schwab Investment Management Inc. increased its holdings in Asana by 10.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 652,713 shares of the company’s stock valued at $11,951,000 after buying an additional 61,141 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Asana by 53.0% during the 3rd quarter. Deutsche Bank AG now owns 103,364 shares of the company’s stock valued at $1,893,000 after acquiring an additional 35,794 shares during the period. 26.21% of the stock is owned by hedge funds and other institutional investors.

Asana Trading Up 15.3 %

NYSE ASAN opened at $13.11 on Friday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.99 billion, a P/E ratio of -11.21 and a beta of 1.15. Asana has a 52-week low of $11.29 and a 52-week high of $24.81. The firm has a 50-day moving average price of $14.20 and a 200 day moving average price of $16.65.

Analysts Set New Price Targets

Several research firms have commented on ASAN. KeyCorp cut their price target on Asana from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. HSBC raised shares of Asana from a “reduce” rating to a “hold” rating and cut their target price for the company from $16.00 to $14.00 in a report on Monday, June 3rd. UBS Group decreased their price target on shares of Asana from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Bank of America started coverage on shares of Asana in a research note on Monday, February 26th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, Jefferies Financial Group reduced their target price on shares of Asana from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.75.

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.