Stanley Laman Group Ltd. Sells 19,674 Shares of Asana, Inc. (NYSE:ASAN)

Stanley Laman Group Ltd. lowered its holdings in Asana, Inc. (NYSE:ASAN - Free Report) by 7.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 241,649 shares of the company's stock after selling 19,674 shares during the quarter. Stanley Laman Group Ltd. owned 0.11% of Asana worth $4,898,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. KBC Group NV increased its stake 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 acquiring an additional 1,211 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of 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. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Asana by 20.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,481 shares of the company's stock valued at $237,000 after purchasing an additional 3,436 shares in the last quarter. Quest Partners LLC bought a new position in Asana in the third quarter worth $43,000. Finally, AQR Capital Management LLC boosted its stake in Asana by 25.6% during the second quarter. AQR Capital Management LLC now owns 32,503 shares of the company's stock worth $444,000 after buying an additional 6,634 shares in the last quarter. 26.21% of the stock is owned by institutional investors.

Asana Price Performance

Shares of Asana stock traded down $1.01 during midday trading on Monday, reaching $23.27. The company had a trading volume of 1,904,278 shares, compared to its average volume of 3,019,300. 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 fifty day simple moving average of $21.64 and a 200 day simple moving average of $16.10. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of -20.78 and a beta of 1.11.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Asana from $13.00 to $15.00 and gave the company an "underweight" rating in a research note on Friday, December 6th. Citigroup raised their price target on shares of Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. JMP Securities upped their price objective on Asana from $21.00 to $25.00 and gave the company a "market outperform" rating in a research note on Friday, December 6th. Morgan Stanley raised their target price on Asana from $14.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Friday, December 6th. Finally, Oppenheimer boosted their price target on Asana from $20.00 to $22.00 and gave the company an "outperform" rating in a research note 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 stock. Based on data from MarketBeat.com, Asana presently has a consensus rating of "Hold" and an average price target of $17.73.

Insider Activity

In other Asana news, Director Justin Rosenstein sold 196,067 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $21.78, for a total transaction of $4,270,339.26. Following the completion of the sale, the director now directly owns 1,651,242 shares of the company's stock, valued at approximately $35,964,050.76. The trade was a 10.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Anne Raimondi sold 27,233 shares of the firm's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.71, for a total transaction of $591,228.43. Following the completion of the transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at $15,931,992.05. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 573,300 shares of company stock valued at $12,197,068. Company insiders own 63.97% of the company's stock.

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.