Insider Selling: Asana, Inc. (NYSE:ASAN) COO Sells 27,233 Shares of Stock

Asana, Inc. (NYSE:ASAN) COO Anne Raimondi sold 27,233 shares of the company’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 transaction of $591,228.43. Following 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 trade represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Asana Price Performance

Shares of NYSE:ASAN opened at $22.73 on Friday. The firm has a market cap of $5.20 billion, a PE ratio of -20.29 and a beta of 1.22. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The firm’s fifty day moving average is $16.70 and its 200-day moving average is $14.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49.

Analyst Ratings Changes

Several equities research analysts have weighed in on ASAN shares. UBS Group cut their target price on Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Bank of America dropped their price objective on Asana from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 target price on the stock in a research report on Friday, December 6th. JMP Securities increased their target price on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 price target on shares of Asana in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.53.

Institutional Trading of Asana

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Asana by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock worth $21,605,000 after purchasing an additional 12,055 shares during the period. Point72 Asset Management L.P. acquired a new position in Asana in the second quarter valued at $17,100,000. JPMorgan Chase & Co. boosted its position in Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after acquiring an additional 427,576 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Asana during the 2nd quarter worth about $5,169,000. Finally, Holocene Advisors LP raised its position in shares of Asana by 62.2% in the 3rd quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock worth $3,537,000 after acquiring an additional 116,998 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors.

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.