Asana, Inc. (NYSE:ASAN) Shares Sold by State Street Corp

State Street Corp lessened its holdings in Asana, Inc. (NYSE:ASAN) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,350,873 shares of the company’s stock after selling 10,730 shares during the quarter. State Street Corp’s holdings in Asana were worth $27,247,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Asana by 11.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock worth $238,000 after buying an additional 1,769 shares during the period. Versor Investments LP lifted its position in Asana by 48.3% during the 2nd quarter. Versor Investments LP now owns 23,200 shares of the company’s stock worth $325,000 after acquiring an additional 7,557 shares during the period. Rhumbline Advisers grew its stake in Asana by 2.2% during the 2nd quarter. Rhumbline Advisers now owns 115,958 shares of the company’s stock valued at $1,622,000 after purchasing an additional 2,464 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV increased its holdings in shares of Asana by 5.0% in the second quarter. Acorn Financial Advisory Services Inc. ADV now owns 81,287 shares of the company’s stock valued at $1,137,000 after purchasing an additional 3,835 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Asana by 3.6% in the second quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock worth $327,000 after purchasing an additional 803 shares during the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ASAN shares. Morgan Stanley upped their target price on Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Bank of America reduced their target price on shares of Asana from $18.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 price target on shares of Asana in a report on Friday, December 6th. DA Davidson lifted their price objective on Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Scotiabank upped their target price on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Two 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, Asana has an average rating of “Hold” and a consensus price target of $16.53.

Asana Stock Down 3.1 %

Asana stock opened at $21.68 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market capitalization of $4.96 billion, a PE ratio of -19.36 and a beta of 1.22. The business has a 50 day simple moving average of $15.91 and a 200-day simple moving average of $14.00. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77.

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.