Vanguard Group Inc. Sells 56,944 Shares of Asana, Inc. (NYSE:ASAN)

Vanguard Group Inc. lessened its stake in Asana, Inc. (NYSE:ASAN) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,181,114 shares of the company’s stock after selling 56,944 shares during the period. Vanguard Group Inc. owned approximately 4.45% of Asana worth $206,371,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ASAN. FMR LLC grew its holdings in shares of Asana by 1,419.9% in the third quarter. FMR LLC now owns 24,029 shares of the company’s stock worth $278,000 after acquiring an additional 22,448 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Asana by 20.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,481 shares of the company’s stock valued at $237,000 after purchasing an additional 3,436 shares during the period. Paloma Partners Management Co purchased a new stake in shares of Asana during the 3rd quarter valued at about $143,000. Centiva Capital LP increased its position in shares of Asana by 88.7% during the 3rd quarter. Centiva Capital LP now owns 63,989 shares of the company’s stock valued at $742,000 after purchasing an additional 30,084 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Asana in the 3rd quarter worth approximately $189,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Asana Stock Down 2.6 %

ASAN opened at $14.16 on Friday. The company has a market capitalization of $3.30 billion, a PE ratio of -12.64 and a beta of 1.23. The firm has a 50-day simple moving average of $18.46 and a two-hundred day simple moving average of $17.05. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77.

Wall Street Analysts Forecast Growth

ASAN has been the subject of a number of research reports. Piper Sandler reduced their target price on shares of Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. DA Davidson decreased their target price on Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. UBS Group cut their price target on Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Citigroup raised their price objective on Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. cut their price objective on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.67.

Insider Activity at Asana

In other Asana news, CEO Dustin A. Moskovitz purchased 225,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was purchased at an average price of $15.33 per share, with a total value of $3,449,250.00. Following the acquisition, the chief executive officer now owns 49,473,436 shares in the company, valued at approximately $758,427,773.88. The trade was a 0.46 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $3,001,500.00. Following the transaction, the director now directly owns 2,047,309 shares in the company, 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. Over the last three months, insiders bought 1,349,507 shares of company stock valued at $19,281,993 and sold 739,842 shares valued at $15,155,503. 63.97% of the stock is owned by corporate insiders.

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.