Asana, Inc. (NYSE:ASAN) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its position in shares of Asana, Inc. (NYSE:ASAN) by 6.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 47,148 shares of the company’s stock after selling 3,338 shares during the quarter. HighTower Advisors LLC’s holdings in Asana were worth $545,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of ASAN. Point72 Asset Management L.P. bought a new position in shares of Asana in the second quarter valued at $17,100,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Asana during the second quarter worth $5,169,000. Holocene Advisors LP lifted its holdings in shares of Asana by 62.2% during the third quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock valued at $3,537,000 after purchasing an additional 116,998 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Asana in the 2nd quarter valued at $3,159,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Asana in the 2nd quarter worth about $3,050,000. Institutional investors own 26.21% of the company’s stock.

Insider Activity

In other Asana news, insider Eleanor B. Lacey sold 4,977 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $58,678.83. Following the sale, the insider now owns 370,333 shares of the company’s stock, valued at $4,366,226.07. This represents a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 63.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on ASAN. Scotiabank upped their price target on shares of Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. UBS Group decreased their target price on Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Citigroup dropped their price target on Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Royal Bank of Canada restated an “underperform” rating and set a $10.00 price objective on shares of Asana in a research report on Friday, December 6th. Finally, Robert W. Baird upped their target price on Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Asana has a consensus rating of “Hold” and a consensus price target of $16.53.

Asana Trading Down 3.1 %

Shares of ASAN opened at $21.68 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market cap of $4.96 billion, a price-to-earnings ratio of -19.36 and a beta of 1.22. The stock has a fifty day moving average price of $15.91 and a two-hundred day moving average price of $14.00. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77.

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.