Insider Selling: Asana, Inc. (NYSE:ASAN) COO Sells 18,775 Shares of Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) COO Anne Raimondi sold 18,775 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $14.03, for a total value of $263,413.25. Following the sale, the chief operating officer now owns 716,580 shares of the company's stock, valued at $10,053,617.40. This trade represents a 2.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Asana Stock Performance

ASAN stock traded down $0.07 during midday trading on Friday, hitting $14.73. 826,076 shares of the company traded hands, compared to its average volume of 3,410,754. The business has a 50 day simple moving average of $19.06 and a 200-day simple moving average of $16.88. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of -13.14 and a beta of 1.13.

Wall Street Analyst Weigh In

Several brokerages recently commented on ASAN. Scotiabank reduced their price target on shares of Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a research report on Tuesday, March 11th. Morgan Stanley decreased their target price on Asana from $18.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price target on Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a report on Tuesday, March 11th. Bank of America reduced their price objective on Asana from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, March 11th. Finally, Piper Sandler decreased their price objective on Asana from $27.00 to $18.00 and set an "overweight" rating for the company in a research 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 assigned a buy rating to the stock. According to data from MarketBeat, Asana has an average rating of "Hold" and an average price target of $15.67.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brooklyn FI LLC bought a new stake in Asana during the fourth quarter valued at about $8,138,000. Vise Technologies Inc. lifted its position in shares of Asana by 6.5% during the 4th quarter. Vise Technologies Inc. now owns 15,809 shares of the company's stock worth $320,000 after purchasing an additional 959 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Asana by 12.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 226,025 shares of the company's stock worth $4,582,000 after purchasing an additional 25,607 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in Asana by 25.6% during the 4th quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock valued at $43,574,000 after purchasing an additional 438,057 shares during the period. Finally, Woodline Partners LP acquired a new stake in Asana in the 4th quarter valued at approximately $1,745,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.