Barclays PLC Grows Holdings in Asana, Inc. (NYSE:ASAN)

Barclays PLC grew its stake in shares of Asana, Inc. (NYSE:ASAN) by 103.0% in the third quarter, Holdings Channel reports. The firm owned 165,753 shares of the company’s stock after acquiring an additional 84,114 shares during the period. Barclays PLC’s holdings in Asana were worth $1,920,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC lifted its holdings in Asana by 327.9% during the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after buying an additional 2,220 shares in the last quarter. KBC Group NV raised its stake in shares of Asana by 52.1% during the third 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 in the last quarter. Quest Partners LLC purchased a new stake in shares of Asana in the third quarter valued at approximately $43,000. Redwood Wealth Management Group LLC bought a new position in Asana in the second quarter worth approximately $65,000. Finally, Daiwa Securities Group Inc. increased its holdings 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. 26.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ASAN has been the subject of several research reports. Piper Sandler upped their target price on Asana from $12.00 to $19.00 and gave the stock a “neutral” rating in a 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 on the stock in a report on Wednesday, September 4th. Morgan Stanley boosted their price target on shares of Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Robert W. Baird increased their price objective on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective for the company in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Asana currently has a consensus rating of “Hold” and an average price target of $16.53.

Insiders Place Their Bets

In related news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at $15,931,992.05. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 63.97% of the company’s stock.

Asana Stock Up 3.4 %

Shares of ASAN stock opened at $22.73 on Friday. The stock’s fifty day moving average price is $16.70 and its 200 day moving average price is $14.23. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a market cap of $5.20 billion, a price-to-earnings ratio of -20.29 and a beta of 1.22. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Asana 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.