State Street Corp Reduces Holdings in Asana, Inc. (NYSE:ASAN)

State Street Corp decreased its position in shares of Asana, Inc. (NYSE:ASAN) by 0.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,350,873 shares of the company’s stock after selling 10,730 shares during the period. State Street Corp owned approximately 1.03% of Asana worth $27,247,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in shares of Asana in the second quarter worth approximately $17,100,000. Cubist Systematic Strategies LLC purchased a new stake in Asana in the second quarter worth $5,169,000. Marshall Wace LLP purchased a new stake in Asana in the second quarter worth $3,159,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Asana during the second quarter worth $3,050,000. Finally, Holocene Advisors LP boosted its stake 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 period. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Stock Down 3.1 %

Shares of Asana stock opened at $21.68 on Monday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a market cap of $4.96 billion, a P/E ratio of -19.36 and a beta of 1.22. The firm’s 50 day moving average price is $15.91 and its 200-day moving average price is $14.00. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77.

Analyst Ratings Changes

Several research firms recently commented on ASAN. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target on the stock in a research note on Friday, December 6th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 price target on shares of Asana in a research note on Friday, December 6th. UBS Group dropped their price objective on Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Oppenheimer lifted their target price on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Morgan Stanley increased their price target on Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, 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.