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

Asana, Inc. (NYSE:ASAN - Get Free Report) COO Anne Raimondi sold 27,233 shares of the business's stock in a transaction that occurred on Friday, December 20th. The shares were 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 directly owns 733,855 shares of the company's stock, valued at approximately $15,931,992.05. The trade was a 3.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Asana Stock Performance

Shares of ASAN traded up $0.75 during trading hours on Thursday, reaching $22.73. 4,450,760 shares of the company traded hands, compared to its average volume of 2,323,919. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The stock's fifty day moving average is $16.70 and its 200 day moving average is $14.23. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The stock has a market cap of $5.20 billion, a P/E ratio of -20.29 and a beta of 1.22.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Asana from $14.00 to $18.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. Jefferies Financial Group increased their price objective on Asana from $13.00 to $16.00 and gave the company a "hold" rating in a report on Friday, December 6th. Scotiabank boosted their target price on Asana from $15.00 to $18.00 and gave the stock a "sector perform" rating in a report on Friday, December 6th. JMP Securities increased their price target on Asana from $21.00 to $25.00 and gave the company a "market outperform" rating in a report on Friday, December 6th. Finally, Oppenheimer boosted their price objective on shares of Asana from $20.00 to $22.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.53.

Hedge Funds Weigh In On Asana

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC raised its position in Asana by 327.9% in the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company's stock worth $41,000 after purchasing an additional 2,220 shares in the last quarter. KBC Group NV boosted its holdings in shares of Asana by 52.1% in the 3rd quarter. KBC Group NV now owns 3,534 shares of the company's stock worth $41,000 after acquiring an additional 1,211 shares in the last quarter. Quest Partners LLC bought a new stake in Asana during the 3rd quarter worth approximately $43,000. Redwood Wealth Management Group LLC acquired a new stake in Asana during the 2nd quarter valued at $65,000. Finally, Daiwa Securities Group Inc. raised its position in Asana by 26.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company's stock valued at $70,000 after purchasing an additional 1,028 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors.

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.