Asana, Inc. (NYSE:ASAN) Shares Sold by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. trimmed its position in shares of Asana, Inc. (NYSE:ASAN) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,657 shares of the company’s stock after selling 925 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in Asana were worth $297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV increased its stake in shares of Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after acquiring an additional 1,211 shares during the period. Quest Partners LLC acquired a new position in shares of Asana during the third quarter worth about $43,000. Bogart Wealth LLC acquired a new position in shares of Asana during the fourth quarter worth about $61,000. SBI Securities Co. Ltd. acquired a new position in shares of Asana during the fourth quarter worth about $82,000. Finally, Paloma Partners Management Co acquired a new position in Asana during the third quarter worth about $143,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Asana Stock Up 1.1 %

Shares of NYSE ASAN opened at $14.03 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market capitalization of $3.21 billion, a PE ratio of -12.52 and a beta of 1.13. The firm’s 50-day moving average is $19.83 and its two-hundred day moving average is $16.84. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $27.77.

Analyst Ratings Changes

Several research analysts have weighed in on ASAN shares. Oppenheimer upped their target price on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. JMP Securities upped their target price on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, December 6th. Bank of America lowered their target price on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Scotiabank lowered their target price on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Tuesday, March 11th. Finally, DA Davidson lowered their target price on shares of Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $15.87.

Insider Activity at Asana

In related news, COO Anne Raimondi sold 27,233 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $21.71, for a total transaction of $591,228.43. Following the transaction, the chief operating officer now owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. This represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of Asana stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $12.91 per share, for a total transaction of $2,904,750.00. Following the purchase, the chief executive officer now directly owns 48,123,436 shares of the company’s stock, valued at approximately $621,273,558.76. This trade represents a 0.47 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 748,300 shares of company stock valued at $15,483,318. Company insiders own 63.97% of the company’s stock.

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.