Olympiad Research LP Sells 44,448 Shares of Asana, Inc. (NYSE:ASAN)

Olympiad Research LP lessened its stake in shares of Asana, Inc. (NYSE:ASAN) by 65.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 23,895 shares of the company’s stock after selling 44,448 shares during the period. Olympiad Research LP’s holdings in Asana were worth $484,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. KBC Group NV grew its holdings in 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 purchasing an additional 1,211 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Asana by 16.1% during the third quarter. Harbor Capital Advisors Inc. now owns 16,974 shares of the company’s stock valued at $197,000 after purchasing an additional 2,350 shares during the period. Handelsbanken Fonder AB grew its holdings in Asana by 19.0% during the fourth quarter. Handelsbanken Fonder AB now owns 18,200 shares of the company’s stock valued at $369,000 after purchasing an additional 2,900 shares during the period. Bogart Wealth LLC bought a new stake in Asana during the fourth quarter valued at about $61,000. Finally, New York State Common Retirement Fund grew its holdings in Asana by 13.6% during the fourth quarter. New York State Common Retirement Fund now owns 25,300 shares of the company’s stock valued at $513,000 after purchasing an additional 3,038 shares during the period. Institutional investors own 26.21% of the company’s stock.

Insider Buying and Selling at Asana

In other Asana news, 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justin Rosenstein sold 150,000 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total value of $3,001,500.00. Following the sale, the director now directly owns 2,047,309 shares in the company, valued at $40,966,653.09. This trade represents a 6.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 573,300 shares of company stock valued at $12,197,068. 63.97% of the stock is currently owned by corporate insiders.

Asana Stock Down 5.2 %

Shares of NYSE ASAN opened at $20.80 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $4.76 billion, a PE ratio of -18.57 and a beta of 1.11. The stock’s fifty day simple moving average is $21.47 and its two-hundred day simple moving average is $16.41. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $27.77.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Citigroup boosted their price objective on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price objective on Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Piper Sandler restated an “overweight” rating and issued a $27.00 price objective on shares of Asana in a research report on Thursday, February 6th. JMP Securities boosted their price objective on Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research report on Friday, December 6th. Finally, DA Davidson boosted their price objective on Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.73.

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.