Asana, Inc. (NYSE:ASAN) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its holdings in shares of Asana, Inc. (NYSE:ASAN) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,547 shares of the company’s stock after selling 4,458 shares during the period. Legal & General Group Plc’s holdings in Asana were worth $1,916,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Bogart Wealth LLC acquired a new position in shares of Asana during the 4th quarter worth approximately $61,000. SBI Securities Co. Ltd. acquired a new position in shares of Asana in the fourth quarter worth $82,000. KBC Group NV lifted its position in shares of Asana by 58.8% in the fourth quarter. KBC Group NV now owns 5,612 shares of the company’s stock valued at $114,000 after acquiring an additional 2,078 shares in the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of Asana in the fourth quarter valued at $163,000. Finally, Empirical Asset Management LLC purchased a new stake in Asana during the 4th quarter worth about $218,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Insider Buying and Selling at Asana

In related news, 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 sale, the chief operating officer now directly owns 716,580 shares in the company, valued at approximately $10,053,617.40. This trade represents a 2.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Justin Rosenstein sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $21.67, for a total value of $4,334,000.00. Following the transaction, the director now directly owns 1,847,309 shares in the company, valued at $40,031,186.03. This trade represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 2,074,507 shares of company stock valued at $30,025,743 and have sold 589,842 shares valued at $12,154,003. 63.97% of the stock is currently owned by corporate insiders.

Asana Stock Up 5.6 %

Shares of NYSE:ASAN opened at $15.97 on Friday. The stock has a 50-day simple moving average of $16.17 and a 200-day simple moving average of $17.34. The stock has a market capitalization of $3.72 billion, a P/E ratio of -14.26 and a beta of 1.23. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup upped their target price on shares of Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Piper Sandler reduced their price objective on shares of Asana from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday. Robert W. Baird lowered their target price on shares of Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Morgan Stanley reduced their price target on Asana from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Finally, UBS Group lowered their price objective on Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.53.

Asana 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.