Olympiad Research LP Sells 44,448 Shares of Asana, Inc. (NYSE:ASAN)

Olympiad Research LP reduced its holdings in Asana, Inc. (NYSE:ASAN) by 65.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,895 shares of the company’s stock after selling 44,448 shares during the quarter. Olympiad Research LP’s holdings in Asana were worth $484,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ASAN. KBC Group NV lifted its stake in shares of Asana by 52.1% in the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after purchasing an additional 1,211 shares during the period. Quest Partners LLC purchased a new position in shares of Asana in the 3rd quarter valued at approximately $43,000. Bogart Wealth LLC purchased a new position in shares of Asana in the 4th quarter valued at approximately $61,000. MQS Management LLC purchased a new position in shares of Asana in the 3rd quarter valued at approximately $141,000. Finally, Paloma Partners Management Co purchased a new position in shares of Asana in the 3rd quarter valued at approximately $143,000. 26.21% of the stock is currently owned by institutional investors.

Asana Stock Down 5.2 %

Asana stock opened at $20.80 on Friday. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of -18.57 and a beta of 1.11. The stock has a fifty day simple moving average of $21.47 and a two-hundred day simple moving average of $16.41. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17.

Insiders Place Their Bets

In related news, Director Justin Rosenstein sold 196,067 shares of Asana stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $21.78, for a total value of $4,270,339.26. Following the completion of the sale, the director now owns 1,651,242 shares of the company’s stock, valued at $35,964,050.76. The trade was a 10.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.71, for a total value of $591,228.43. Following the completion of the sale, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at $15,931,992.05. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 573,300 shares of company stock valued at $12,197,068. Corporate insiders own 63.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ASAN. Citigroup raised their target price on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Oppenheimer raised their target price on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Robert W. Baird raised their target price on Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 target price for the company in a research note on Friday, December 6th. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $10.00 price objective on shares of Asana in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.73.

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.