Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,436 Shares of Asana, Inc. (NYSE:ASAN)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Asana, Inc. (NYSE:ASAN) by 20.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,481 shares of the company’s stock after purchasing an additional 3,436 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Asana were worth $237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Arizona State Retirement System raised its position in shares of Asana by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock valued at $327,000 after buying an additional 803 shares in the last quarter. Diversified Trust Co increased its stake in Asana by 2.6% in the second quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock valued at $489,000 after acquiring an additional 900 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Asana by 26.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after purchasing an additional 1,028 shares in the last quarter. KBC Group NV lifted its stake in Asana by 52.1% during the third 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 last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Asana by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock valued at $687,000 after purchasing an additional 1,888 shares during the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ASAN has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday. UBS Group lowered their price objective on shares of Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Piper Sandler increased their target price on shares of Asana from $12.00 to $19.00 and gave the company a “neutral” rating in a report on Friday. Citigroup cut their price target on shares of Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Finally, Robert W. Baird lifted their price objective on Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.53.

Asana Stock Performance

Shares of ASAN stock opened at $22.19 on Monday. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of -19.81 and a beta of 1.22. The stock has a fifty day moving average of $13.37 and a 200 day moving average of $13.29. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $22.54. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14.

Insider Transactions at Asana

In related news, COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $357,385.93. Following the sale, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at $9,125,445.12. This represents a 3.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eleanor B. Lacey sold 4,977 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total value of $58,678.83. Following the completion of the transaction, the insider now owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,092 shares of company stock valued at $527,668. 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.