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

Catalyst Private Wealth LLC reduced its stake in Asana, Inc. (NYSE:ASAN) by 10.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 46,434 shares of the company’s stock after selling 5,595 shares during the period. Catalyst Private Wealth LLC’s holdings in Asana were worth $941,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Friedenthal Financial acquired a new stake in shares of Asana during the fourth quarter worth about $762,000. JPMorgan Chase & Co. boosted its position in Asana by 105.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after buying an additional 427,576 shares during the period. Neo Ivy Capital Management grew its stake in shares of Asana by 195.1% in the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock worth $1,964,000 after acquiring an additional 112,038 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock valued at $21,605,000 after acquiring an additional 12,055 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Asana by 103.0% in the third quarter. Barclays PLC now owns 165,753 shares of the company’s stock valued at $1,920,000 after acquiring an additional 84,114 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Asana Trading Down 1.9 %

Shares of Asana stock traded down $0.37 during mid-day trading on Monday, hitting $18.86. 2,335,338 shares of the stock were exchanged, compared to its average volume of 3,083,453. The stock has a market capitalization of $4.31 billion, a price-to-earnings 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 company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $18.51 and a 200 day simple moving average of $14.86.

Insiders Place Their Bets

In other news, COO Anne Raimondi sold 27,233 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.71, for a total transaction 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. 63.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ASAN has been the topic of several recent research reports. DA Davidson upped their price target on Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Jefferies Financial Group upped their target price on shares of Asana from $16.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. KeyCorp upgraded 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 note on Friday, December 6th. Morgan Stanley increased their price objective 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. Finally, Oppenheimer lifted their price objective 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Asana currently has an average rating of “Hold” and a consensus price target of $17.27.

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.