Catalyst Private Wealth LLC Trims Holdings in Asana, Inc. (NYSE:ASAN)

Catalyst Private Wealth LLC reduced its stake in shares of Asana, Inc. (NYSE:ASAN) by 10.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,434 shares of the company’s stock after selling 5,595 shares during the quarter. Catalyst Private Wealth LLC’s holdings in Asana were worth $941,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Headlands Technologies LLC boosted its position in Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after buying an additional 2,220 shares during the period. KBC Group NV boosted its holdings in shares of Asana by 52.1% in the third 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 bought a new position in Asana in the third quarter worth approximately $43,000. Redwood Wealth Management Group LLC purchased a new position in Asana during the 2nd quarter worth $65,000. Finally, Daiwa Securities Group Inc. raised its position in Asana by 26.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after purchasing an additional 1,028 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors.

Asana Price Performance

NYSE:ASAN traded down $0.37 during trading hours on Monday, reaching $18.86. 2,335,338 shares of the company were exchanged, compared to its average volume of 3,083,453. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The firm has a market cap of $4.31 billion, a PE ratio of -16.84 and a beta of 1.10. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The stock’s 50-day moving average is $18.51 and its 200-day moving average is $14.86.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ASAN shares. Scotiabank raised their price target on Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Morgan Stanley raised their target price on shares of Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target for the company in a research report on Friday, December 6th. Piper Sandler upgraded Asana from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $19.00 to $27.00 in a report on Monday, January 6th. Finally, DA Davidson upped their price objective on Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. 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.com, Asana has an average rating of “Hold” and an average target price of $17.27.

Insider Buying and Selling

In other news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction dated Friday, December 20th. The shares were 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 in the company, valued at $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 Securities & Exchange Commission, which is available at this link. 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.