SG Americas Securities LLC Sells 7,816 Shares of Asana, Inc. (NYSE:ASAN)

SG Americas Securities LLC trimmed its stake in shares of Asana, Inc. (NYSE:ASAN) by 19.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,486 shares of the company’s stock after selling 7,816 shares during the period. SG Americas Securities LLC’s holdings in Asana were worth $638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new position in shares of Asana during the 2nd quarter valued at $3,159,000. AQR Capital Management LLC lifted its holdings in Asana by 25.6% in the second quarter. AQR Capital Management LLC now owns 32,503 shares of the company’s stock valued at $444,000 after acquiring an additional 6,634 shares during the period. The Manufacturers Life Insurance Company boosted its position in Asana by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock worth $687,000 after purchasing an additional 1,888 shares during the last quarter. Washington Capital Management Inc. bought a new stake in shares of Asana during the 3rd quarter valued at about $377,000. Finally, Harbor Capital Advisors Inc. increased its position in shares of Asana by 16.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 16,974 shares of the company’s stock valued at $197,000 after purchasing an additional 2,350 shares during the last quarter. Institutional investors own 26.21% of the company’s stock.

Insider Buying and Selling

In other news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.71, for a total transaction of $591,228.43. Following the completion of the transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at approximately $15,931,992.05. This represents a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justin Rosenstein sold 150,000 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the completion of the sale, the director now owns 2,047,309 shares in the company, valued at $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 quarter, insiders sold 377,233 shares of company stock worth $7,926,728. 63.97% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Piper Sandler raised shares of Asana from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $27.00 in a report on Monday, January 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. Jefferies Financial Group boosted their price objective on shares of Asana from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 6th. KeyCorp raised Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 target price on the stock in a report on Friday, December 6th. Finally, JMP Securities boosted their price target on Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $17.73.

Asana Trading Down 1.5 %

Shares of ASAN opened at $21.38 on Friday. The firm has a market cap of $4.89 billion, a P/E ratio of -19.09 and a beta of 1.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The company has a 50 day simple moving average of $20.11 and a two-hundred day simple moving average of $15.44.

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.