Insider Selling: Asana, Inc. (NYSE:ASAN) COO Sells $591,228.43 in Stock

Asana, Inc. (NYSE:ASAN) COO Anne Raimondi sold 27,233 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at $15,931,992.05. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Asana Stock Down 5.0 %

Shares of Asana stock opened at $21.59 on Friday. 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 business has a 50-day moving average price of $16.89 and a 200 day moving average price of $14.30. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The firm has a market cap of $4.94 billion, a P/E ratio of -19.28 and a beta of 1.22.

Institutional Investors Weigh In On Asana

A number of institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in Asana in the second quarter worth $17,100,000. JPMorgan Chase & Co. boosted its holdings in shares of Asana by 105.6% in 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 during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Asana during the 2nd quarter valued at about $5,169,000. Marshall Wace LLP acquired a new stake in Asana during the second quarter worth about $3,159,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Asana in the second quarter worth about $3,050,000. 26.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup lowered their price target on Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Morgan Stanley raised their target price on Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Scotiabank upped their price target on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a report on Friday, December 6th. Bank of America dropped their price objective on shares of Asana from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, JMP Securities upped their target price on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.53.

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.