Geode Capital Management LLC Acquires 12,055 Shares of Asana, Inc. (NYSE:ASAN)

Geode Capital Management LLC grew its holdings in Asana, Inc. (NYSE:ASAN) by 0.7% in the third quarter, Holdings Channel reports. The firm owned 1,863,703 shares of the company’s stock after buying an additional 12,055 shares during the quarter. Geode Capital Management LLC’s holdings in Asana were worth $21,605,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in shares of Asana in the 2nd quarter worth $17,100,000. Cubist Systematic Strategies LLC bought a new stake in shares of Asana in the second quarter worth $5,169,000. Holocene Advisors LP grew its holdings in shares of Asana by 62.2% in the third quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock worth $3,537,000 after acquiring an additional 116,998 shares during the period. Marshall Wace LLP bought a new stake in shares of Asana in the second quarter worth $3,159,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Asana in the second quarter worth $3,050,000. Institutional investors own 26.21% of the company’s stock.

Asana Price Performance

Shares of Asana stock opened at $21.59 on Friday. The stock’s 50-day simple moving average is $16.89 and its 200-day simple moving average is $14.29. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of -19.28 and a beta of 1.22. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. UBS Group cut their price objective on Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their price objective on Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Jefferies Financial Group lifted their price objective on Asana from $13.00 to $16.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Scotiabank lifted their price objective on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a report on Friday, December 6th. Finally, DA Davidson boosted their price target on Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.53.

Insider Activity

In related news, COO Anne Raimondi sold 27,233 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.71, for a total value of $591,228.43. Following the sale, the chief operating officer now directly owns 733,855 shares in the company, valued at approximately $15,931,992.05. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 63.97% of the company’s stock.

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.