Anne Raimondi Sells 27,233 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) COO Anne Raimondi sold 27,233 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.71, for a total value of $591,228.43. Following the transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at $15,931,992.05. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Asana Trading Down 5.0 %

ASAN opened at $21.59 on Friday. 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 $4.94 billion, a price-to-earnings ratio of -19.28 and a beta of 1.22. The company has a 50-day simple moving average of $16.89 and a 200 day simple moving average of $14.29.

Institutional Trading of Asana

Several large investors have recently made changes to their positions in ASAN. Headlands Technologies LLC lifted its stake in Asana by 327.9% during 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 during the last quarter. KBC Group NV lifted its position in shares of Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after buying an additional 1,211 shares during the last quarter. Quest Partners LLC bought a new position in Asana in the third quarter valued at about $43,000. Redwood Wealth Management Group LLC bought a new position in Asana in the second quarter valued at about $65,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Asana by 26.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after acquiring an additional 1,028 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ASAN shares. JMP Securities upped their price objective on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, December 6th. Robert W. Baird increased their price target on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Piper Sandler raised their price objective on shares of Asana from $12.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. DA Davidson upped their target price on Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Scotiabank boosted their price target on Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Asana currently has an average rating of “Hold” and an average price target of $16.53.

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.