TruNorth Capital Management LLC Makes New $163,000 Investment in Asana, Inc. (NYSE:ASAN)

TruNorth Capital Management LLC purchased a new stake in Asana, Inc. (NYSE:ASAN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,026 shares of the company’s stock, valued at approximately $163,000.

Several other large investors have also modified their holdings of the company. Harbor Capital Advisors Inc. grew its holdings in shares of Asana by 16.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 16,974 shares of the company’s stock worth $197,000 after acquiring an additional 2,350 shares during the period. Olympiad Research LP acquired a new stake in Asana during the third quarter worth about $792,000. GSA Capital Partners LLP purchased a new position in shares of Asana in the 3rd quarter valued at $497,000. MQS Management LLC acquired a new position in Asana during the 3rd quarter worth approximately $141,000. Finally, KBC Group NV lifted its holdings in Asana by 52.1% in the 3rd 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. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Trading Down 4.6 %

NYSE ASAN opened at $19.84 on Tuesday. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The company’s 50-day simple moving average is $21.32 and its 200 day simple moving average is $16.48. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Analysts Set New Price Targets

A number of equities analysts recently commented on ASAN shares. Jefferies Financial Group lifted their price target on Asana from $16.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 target price on shares of Asana 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 report on Friday, December 6th. JMP Securities lifted their target price on Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, December 6th. Finally, KeyCorp raised Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target on the stock in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.73.

Insider Activity at Asana

In other news, Director Justin Rosenstein sold 150,000 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the sale, the director now owns 2,047,309 shares in the company, valued at approximately $40,966,653.09. This represents a 6.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.71, for a total value of $591,228.43. Following the completion of the transaction, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at $15,931,992.05. This represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 573,300 shares of company stock valued at $12,197,068 in the last 90 days. 63.97% of the stock is owned by corporate insiders.

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.