Sunbelt Securities Inc. Decreases Stock Holdings in Asana, Inc. (NYSE:ASAN)

Sunbelt Securities Inc. reduced its holdings in shares of Asana, Inc. (NYSE:ASAN) by 19.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,033 shares of the company’s stock after selling 7,335 shares during the quarter. Sunbelt Securities Inc.’s holdings in Asana were worth $348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of Asana by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock worth $21,605,000 after purchasing an additional 12,055 shares during the period. Point72 Asset Management L.P. purchased a new stake in Asana during the second quarter worth about $17,100,000. Cubist Systematic Strategies LLC bought a new stake in Asana in the second quarter worth about $5,169,000. Holocene Advisors LP boosted its stake in Asana by 62.2% in the third quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock valued at $3,537,000 after acquiring an additional 116,998 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Asana in the second quarter valued at about $3,159,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Stock Up 1.3 %

ASAN opened at $24.14 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. Asana, Inc. has a one year low of $11.05 and a one year high of $26.10. The firm has a market capitalization of $5.51 billion, a P/E ratio of -21.55 and a beta of 1.22. The company has a fifty day moving average price of $14.65 and a 200-day moving average price of $13.62.

Insider Buying and Selling

In other Asana news, insider Eleanor B. Lacey sold 9,308 shares of Asana stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $111,602.92. Following the completion of the sale, the insider now directly owns 375,310 shares in the company, valued at $4,499,966.90. The trade was a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Anne Raimondi sold 29,807 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the completion of the transaction, the chief operating officer now directly owns 761,088 shares in the company, valued at $9,125,445.12. The trade was a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,092 shares of company stock worth $527,668 over the last ninety days. 63.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. DA Davidson lifted their price target on shares of Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Oppenheimer boosted 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. UBS Group dropped their price target on Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Robert W. Baird lifted their price objective on Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, JMP Securities upped their price objective on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $16.53.

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.