Asana, Inc. (NYSE:ASAN) COO Anne Raimondi Sells 18,775 Shares

Asana, Inc. (NYSE:ASAN) COO Anne Raimondi sold 18,775 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $14.03, for a total transaction of $263,413.25. Following the completion of the transaction, the chief operating officer now owns 716,580 shares in the company, valued at approximately $10,053,617.40. The trade was a 2.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Asana Price Performance

Shares of NYSE ASAN traded up $0.62 during mid-day trading on Monday, reaching $15.07. The company had a trading volume of 2,626,223 shares, compared to its average volume of 2,578,230. The company has a 50-day moving average price of $19.32 and a two-hundred day moving average price of $16.88. The stock has a market cap of $3.45 billion, a PE ratio of -13.45 and a beta of 1.13. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77.

Analysts Set New Price Targets

A number of brokerages have commented on ASAN. Oppenheimer lifted their target price on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Bank of America lowered 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. Citigroup boosted their price target on shares of Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. reduced their target price on shares of Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research note on Tuesday, March 11th. Finally, Robert W. Baird reduced their price objective on Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.67.

Hedge Funds Weigh In On Asana

Institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of Asana in the fourth quarter worth about $29,000. KBC Group NV boosted its stake in 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 purchasing an additional 1,211 shares during the period. Quest Partners LLC purchased a new position in Asana during the 3rd quarter worth approximately $43,000. Bogart Wealth LLC purchased a new position in Asana during the 4th quarter worth approximately $61,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Asana during the 4th quarter valued at $82,000. Hedge funds and other institutional investors own 26.21% 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.