Harbor Capital Advisors Inc. Decreases Stock Holdings in Asana, Inc. (NYSE:ASAN)

Harbor Capital Advisors Inc. lowered its stake in Asana, Inc. (NYSE:ASAN) by 13.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,696 shares of the company’s stock after selling 2,278 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Asana were worth $298,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes 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 valued at $9,650,000 after buying an additional 427,576 shares during the period. Neo Ivy Capital Management lifted its holdings in Asana by 195.1% in the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock valued at $1,964,000 after acquiring an additional 112,038 shares during the period. Geode Capital Management LLC boosted its position in Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock worth $21,605,000 after purchasing an additional 12,055 shares during the last quarter. Barclays PLC boosted its position in Asana by 103.0% in the third quarter. Barclays PLC now owns 165,753 shares of the company’s stock worth $1,920,000 after purchasing an additional 84,114 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Asana during the 3rd quarter valued at about $538,000. Institutional investors own 26.21% of the company’s stock.

Insider Activity

In related news, COO Anne Raimondi sold 27,233 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.71, for a total value of $591,228.43. Following the completion of the transaction, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 63.97% of the company’s stock.

Asana Stock Performance

Shares of NYSE ASAN opened at $18.66 on Wednesday. The company has a market cap of $4.27 billion, a P/E ratio of -16.66 and a beta of 1.10. Asana, Inc. has a 52-week low of $11.05 and a 52-week 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. The firm’s fifty day moving average is $18.75 and its two-hundred day moving average is $14.93.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ASAN shares. Royal Bank of Canada reissued an “underperform” rating and issued a $10.00 price objective on shares of Asana in a report on Friday, December 6th. DA Davidson lifted their price target on shares of Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. JMP Securities upped their price objective on Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. Jefferies Financial Group lifted their target price on Asana from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Finally, KeyCorp raised Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target for the company in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Asana presently has an average rating of “Hold” and a consensus price target of $17.27.

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.