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

Stanley Laman Group Ltd. cut its stake in Asana, Inc. (NYSE:ASAN) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 241,649 shares of the company’s stock after selling 19,674 shares during the period. Stanley Laman Group Ltd. owned approximately 0.11% of Asana worth $4,898,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ASAN. JPMorgan Chase & Co. lifted its holdings in shares of Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after acquiring an additional 427,576 shares during the period. Holocene Advisors LP lifted its holdings in shares of Asana by 62.2% during the 3rd quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock worth $3,537,000 after acquiring an additional 116,998 shares during the period. Neo Ivy Capital Management lifted its holdings in shares of Asana by 195.1% during the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock worth $1,964,000 after acquiring an additional 112,038 shares during the period. Savant Capital LLC bought a new position in shares of Asana during the 4th quarter worth about $1,779,000. Finally, Barclays PLC lifted its holdings in shares of Asana by 103.0% during the 3rd quarter. Barclays PLC now owns 165,753 shares of the company’s stock worth $1,920,000 after acquiring an additional 84,114 shares during the period. 26.21% of the stock is owned by institutional investors.

Asana Stock Up 2.2 %

Shares of NYSE:ASAN opened at $22.85 on Thursday. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The company has a 50 day moving average of $21.31 and a 200-day moving average of $15.92. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of -20.40 and a beta of 1.11.

Insider Transactions at Asana

In related news, 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 transaction of $591,228.43. Following the completion of the transaction, the chief operating officer now owns 733,855 shares in the company, valued at approximately $15,931,992.05. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justin Rosenstein sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the transaction, the director now owns 2,047,309 shares of the company’s stock, valued at approximately $40,966,653.09. This represents a 6.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 573,300 shares of company stock worth $12,197,068 in the last quarter. 63.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ASAN shares. Oppenheimer lifted their price target on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Piper Sandler reissued an “overweight” rating and set a $27.00 price target on shares of Asana in a report on Thursday, February 6th. Citigroup lifted 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. Jefferies Financial Group raised their price objective on shares of Asana from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Finally, Robert W. Baird raised their price objective on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Asana currently has a consensus rating of “Hold” and a consensus target price of $17.73.

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.