Anne Raimondi Sells 18,775 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) COO Anne Raimondi sold 18,775 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $14.03, for a total transaction of $263,413.25. Following the completion of the transaction, the chief operating officer now owns 716,580 shares in the company, valued at approximately $10,053,617.40. The trade was a 2.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Asana Stock Up 2.0 %

NYSE:ASAN opened at $15.38 on Wednesday. The company’s 50-day simple moving average is $19.25 and its 200-day simple moving average is $16.91. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The stock has a market capitalization of $3.52 billion, a P/E ratio of -13.73 and a beta of 1.13.

Hedge Funds Weigh In On Asana

Several institutional investors and hedge funds have recently bought and sold shares of ASAN. JPMorgan Chase & Co. raised its stake in Asana by 105.6% in the third 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 during the last quarter. XTX Topco Ltd acquired a new stake in Asana in the 3rd quarter worth approximately $538,000. Neo Ivy Capital Management increased its stake in Asana by 195.1% during the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock valued at $1,964,000 after purchasing an additional 112,038 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Asana by 7.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company’s stock worth $14,083,000 after buying an additional 48,831 shares during the period. Finally, Friedenthal Financial purchased a new stake in shares of Asana during the fourth quarter valued at $762,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ASAN has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “underperform” rating and issued a $10.00 target price on shares of Asana in a research note on Friday, December 6th. UBS Group dropped their price objective on Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Citigroup lifted their target price on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Oppenheimer increased their price target on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Bank of America decreased their price objective on Asana from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.67.

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.