Osborne Partners Capital Management LLC Lowers Stock Position in Asana, Inc. (NYSE:ASAN)

Osborne Partners Capital Management LLC trimmed its holdings in shares of Asana, Inc. (NYSE:ASAN) by 14.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,026 shares of the company’s stock after selling 2,406 shares during the period. Osborne Partners Capital Management LLC’s holdings in Asana were worth $284,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ASAN. KBC Group NV boosted its holdings in 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 buying an additional 1,211 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Asana during the 3rd quarter worth approximately $43,000. MQS Management LLC purchased a new stake in shares of Asana during the 3rd quarter worth approximately $141,000. Paloma Partners Management Co acquired a new stake in shares of Asana in the 3rd quarter worth approximately $143,000. Finally, Quadrature Capital Ltd purchased a new position in Asana in the 3rd quarter valued at approximately $189,000. 26.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Robert W. Baird increased their price objective on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Oppenheimer lifted 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. Scotiabank increased their price target on shares of Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group lifted their price objective on Asana from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.73.

Insider Activity

In other Asana news, COO Anne Raimondi sold 27,233 shares of Asana 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 directly owns 733,855 shares of the company’s stock, valued at $15,931,992.05. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total value of $3,001,500.00. Following the completion of the sale, the director now directly owns 2,047,309 shares of the company’s stock, valued at $40,966,653.09. The trade was a 6.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 377,233 shares of company stock valued at $7,926,728 in the last 90 days. 63.97% of the stock is currently owned by insiders.

Asana Stock Performance

Asana stock opened at $21.33 on Monday. The stock has a fifty day moving average price of $20.35 and a 200 day moving average price of $15.54. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The firm has a market capitalization of $4.88 billion, a P/E ratio of -19.04 and a beta of 1.10.

About Asana

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.