Barclays PLC Decreases Stake in Asana, Inc. (NYSE:ASAN)

Barclays PLC reduced its stake in shares of Asana, Inc. (NYSE:ASAN) by 1.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 164,116 shares of the company’s stock after selling 1,637 shares during the period. Barclays PLC’s holdings in Asana were worth $3,326,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Bogart Wealth LLC purchased a new stake in shares of Asana during the 4th quarter worth $61,000. SBI Securities Co. Ltd. purchased a new stake in shares of Asana in the 4th quarter worth about $82,000. KBC Group NV boosted its position in shares of Asana by 58.8% in the 4th quarter. KBC Group NV now owns 5,612 shares of the company’s stock worth $114,000 after buying an additional 2,078 shares in the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of Asana in the 4th quarter worth about $163,000. Finally, Empirical Asset Management LLC purchased a new stake in shares of Asana in the 4th quarter worth about $218,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Asana Stock Down 0.2 %

Shares of ASAN opened at $15.97 on Tuesday. The firm has a market cap of $3.72 billion, a PE ratio of -14.26 and a beta of 1.23. The company’s fifty day moving average is $15.89 and its two-hundred day moving average is $17.48. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Robert W. Baird decreased their price objective on shares of Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Scotiabank decreased their price objective 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. UBS Group decreased their price objective on shares of Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. JMP Securities set a $22.00 price objective on shares of Asana in a research report on Tuesday, March 11th. Finally, Jefferies Financial Group cut their target price on shares of Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.53.

Insider Buying and Selling at Asana

In related news, Director Justin Rosenstein sold 196,067 shares of Asana stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $21.78, for a total transaction of $4,270,339.26. Following the transaction, the director now owns 1,651,242 shares in the company, valued at approximately $35,964,050.76. The trade was a 10.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dustin A. Moskovitz bought 225,000 shares of Asana stock in a transaction that occurred on Monday, March 17th. The shares were acquired at an average price of $14.02 per share, for a total transaction of $3,154,500.00. Following the acquisition, the chief executive officer now directly owns 48,573,436 shares in the company, valued at approximately $680,999,572.72. This represents a 0.47 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 2,074,507 shares of company stock worth $30,025,743 and have sold 389,842 shares worth $7,820,003. 63.97% of the stock is owned by company insiders.

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.