Asana, Inc. (NYSE:ASAN) Stake Lowered by Shelton Capital Management

Shelton Capital Management reduced its stake in shares of Asana, Inc. (NYSE:ASAN) by 15.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,425 shares of the company’s stock after selling 4,475 shares during the period. Shelton Capital Management’s holdings in Asana were worth $515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Invesco Ltd. grew its holdings in shares of Asana by 948.9% during the 4th quarter. Invesco Ltd. now owns 375,352 shares of the company’s stock valued at $7,608,000 after acquiring an additional 339,566 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Asana by 1,259.4% in the fourth quarter. Russell Investments Group Ltd. now owns 47,837 shares of the company’s stock worth $970,000 after purchasing an additional 44,318 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Asana by 35.5% in the fourth quarter. Wells Fargo & Company MN now owns 52,962 shares of the company’s stock worth $1,074,000 after purchasing an additional 13,889 shares in the last quarter. Trexquant Investment LP bought a new stake in Asana in the fourth quarter worth $11,391,000. Finally, Headlands Technologies LLC bought a new stake in Asana in the fourth quarter worth $757,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Asana Stock Up 17.7 %

Shares of ASAN opened at $16.22 on Thursday. The company has a 50-day simple moving average of $17.80 and a 200-day simple moving average of $17.10. The firm has a market capitalization of $3.78 billion, a P/E ratio of -14.49 and a beta of 1.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ASAN shares. DA Davidson decreased their price objective on shares of Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. 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. 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 $27.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Finally, Scotiabank decreased their price target on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a report on Tuesday, March 11th. Two 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.67.

Insider Activity

In related news, COO Anne Raimondi sold 18,775 shares of the 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 completion of the transaction, the chief operating officer now owns 716,580 shares of the company’s stock, valued at $10,053,617.40. This represents a 2.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $12.91 per share, for a total transaction of $2,904,750.00. Following the completion of the purchase, the chief executive officer now directly owns 48,123,436 shares of the company’s stock, valued at approximately $621,273,558.76. The trade was a 0.47 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 1,799,507 shares of company stock valued at $25,714,743 and sold 739,842 shares valued at $15,155,503. 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.