Asana, Inc. (NYSE:ASAN) Shares Sold by Neo Ivy Capital Management

Neo Ivy Capital Management lessened its holdings in Asana, Inc. (NYSE:ASAN - Free Report) by 48.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,191 shares of the company's stock after selling 81,263 shares during the period. Neo Ivy Capital Management's holdings in Asana were worth $1,787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Barclays PLC boosted its holdings in shares of Asana by 103.0% during 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 period. Blue Trust Inc. increased its stake in shares of Asana by 1,934.8% during the fourth quarter. Blue Trust Inc. now owns 21,081 shares of the company's stock valued at $427,000 after purchasing an additional 20,045 shares in the last quarter. KBC Group NV increased its stake in shares of Asana by 58.8% during the fourth quarter. KBC Group NV now owns 5,612 shares of the company's stock valued at $114,000 after purchasing an additional 2,078 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Asana during the fourth quarter valued at approximately $366,000. Finally, Savant Capital LLC purchased a new position in Asana in the 4th quarter worth approximately $1,779,000. Institutional investors own 26.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a report on Tuesday, March 11th. Jefferies Financial Group decreased their price objective on shares of Asana from $19.00 to $15.00 and set a "hold" rating for the company in a report on Tuesday, March 11th. UBS Group decreased their price objective on shares of Asana from $18.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Piper Sandler decreased their price objective on shares of Asana from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Finally, Bank of America decreased their price objective on shares of Asana from $30.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, March 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Asana currently has a consensus rating of "Hold" and an average price target of $15.53.

Insiders Place Their Bets

In other Asana news, COO Anne Raimondi sold 18,775 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.03, for a total value of $263,413.25. Following the transaction, the chief operating officer now directly owns 716,580 shares in the company, valued at $10,053,617.40. This represents a 2.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justin Rosenstein sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the sale, the director now directly owns 922,309 shares of the company's stock, valued at $11,888,563.01. The trade was a 2.64% decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 2,074,507 shares of company stock worth $30,025,743 in the last 90 days. 61.28% of the stock is currently owned by corporate insiders.

Asana Stock Performance

Shares of ASAN stock traded down $0.09 during mid-day trading on Thursday, reaching $18.20. 815,778 shares of the company's stock traded hands, compared to its average volume of 2,785,102. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The firm has a 50 day moving average price of $16.05 and a two-hundred day moving average price of $18.14. 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 has a market capitalization of $4.24 billion, a PE ratio of -16.25 and a beta of 1.21.

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.