Harbor Capital Advisors Inc. Sells 2,278 Shares of Asana, Inc. (NYSE:ASAN)

Harbor Capital Advisors Inc. trimmed its stake in Asana, Inc. (NYSE:ASAN) by 13.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,696 shares of the company’s stock after selling 2,278 shares during the period. Harbor Capital Advisors Inc.’s holdings in Asana were worth $298,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ASAN. Geode Capital Management LLC increased its stake in Asana by 0.7% in the third 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. purchased a new position in Asana in the 2nd quarter worth about $17,100,000. JPMorgan Chase & Co. lifted its holdings in Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after buying an additional 427,576 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Asana in the 2nd quarter valued at about $5,169,000. Finally, Holocene Advisors LP grew its stake in 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. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ASAN. Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 price target on shares of Asana in a research note on Friday, December 6th. Piper Sandler upgraded Asana from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $27.00 in a report on Monday, January 6th. JPMorgan Chase & Co. raised their price target on Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Jefferies Financial Group lifted their price objective on Asana from $16.00 to $19.00 and gave the company a “hold” rating in a report on Monday, January 6th. Finally, 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Asana presently has a consensus rating of “Hold” and an average target price of $17.27.

Asana Trading Down 0.9 %

NYSE ASAN opened at $18.66 on Wednesday. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a 50 day moving average price of $18.75 and a 200 day moving average price of $14.93. 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 firm has a market cap of $4.27 billion, a PE ratio of -16.66 and a beta of 1.10.

Insiders Place Their Bets

In other Asana news, COO Anne Raimondi sold 27,233 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.71, for a total value of $591,228.43. Following the completion of the sale, the chief operating officer now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 63.97% 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.