Cresset Asset Management LLC Has $2.06 Million Stock Position in Asana, Inc. (NYSE:ASAN)

Cresset Asset Management LLC lessened its position in shares of Asana, Inc. (NYSE:ASAN) by 2.8% during the 4th quarter, HoldingsChannel reports. The fund owned 101,719 shares of the company’s stock after selling 2,982 shares during the quarter. Cresset Asset Management LLC’s holdings in Asana were worth $2,062,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP acquired a new position in Asana during the 4th quarter valued at about $29,000. Bogart Wealth LLC acquired a new position in shares of Asana in the 4th quarter valued at $61,000. SBI Securities Co. Ltd. bought a new position in shares of Asana in the 4th quarter worth $82,000. KBC Group NV grew its stake in shares of Asana by 58.8% during the fourth quarter. KBC Group NV now owns 5,612 shares of the company’s stock worth $114,000 after purchasing an additional 2,078 shares during the period. Finally, State of Tennessee Department of Treasury bought a new stake in Asana in the fourth quarter valued at about $135,000. Institutional investors own 26.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ASAN. Jefferies Financial Group decreased their target price on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, March 11th. Bank of America lowered their target price on shares of Asana from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Scotiabank reduced their price target on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Tuesday, March 11th. Morgan Stanley decreased their target price on Asana from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. dropped their price target on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 11th. 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 stock. Based on data from MarketBeat.com, Asana currently has an average rating of “Hold” and an average price target of $15.53.

Insider Activity at Asana

In related news, COO Anne Raimondi sold 18,775 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total transaction of $263,413.25. Following the completion of the transaction, the chief operating officer now directly owns 716,580 shares of the company’s stock, valued at approximately $10,053,617.40. This represents a 2.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Justin Rosenstein sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $19.76, for a total value of $2,964,000.00. Following the transaction, the director now directly owns 1,097,309 shares in the company, valued at $21,682,825.84. This trade represents a 12.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 2,074,507 shares of company stock valued at $30,025,743 and sold 193,775 shares valued at $3,549,663. 63.97% of the stock is owned by insiders.

Asana Price Performance

Shares of ASAN opened at $17.21 on Friday. The company has a 50 day moving average of $15.32 and a 200-day moving average of $17.67. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $4.01 billion, a P/E ratio of -15.37 and a beta of 1.21. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77.

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.