Brooklyn FI LLC Takes Position in Asana, Inc. (NYSE:ASAN)

Brooklyn FI LLC purchased a new position in Asana, Inc. (NYSE:ASAN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 401,494 shares of the company’s stock, valued at approximately $8,138,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ASAN. JPMorgan Chase & Co. increased its position in shares of Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after acquiring an additional 427,576 shares during the period. XTX Topco Ltd purchased a new position in Asana during the 3rd quarter worth $538,000. Neo Ivy Capital Management raised its position in Asana by 195.1% during the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock valued at $1,964,000 after purchasing an additional 112,038 shares in the last quarter. Friedenthal Financial bought a new stake in Asana during the 4th quarter valued at $762,000. Finally, Intech Investment Management LLC bought a new position in shares of Asana during the 3rd quarter worth $456,000. Institutional investors own 26.21% of the company’s stock.

Asana Stock Down 0.5 %

Shares of ASAN stock opened at $14.00 on Wednesday. The stock’s fifty day moving average price is $19.71 and its 200 day moving average price is $16.84. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a market cap of $3.20 billion, a price-to-earnings ratio of -12.50 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Insiders Place Their Bets

In other news, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction on Friday, December 20th. The shares were 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 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 SEC, which is accessible through the SEC website. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $12.91 per share, for a total transaction of $2,904,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 48,123,436 shares of the company’s stock, valued at approximately $621,273,558.76. The trade was a 0.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 748,300 shares of company stock valued at $15,483,318. 63.97% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ASAN. Piper Sandler decreased their price objective on Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Robert W. Baird lowered their price target on shares of Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. UBS Group dropped their price objective on shares of Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Bank of America reduced their price objective 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. Finally, DA Davidson dropped their target price on Asana from $20.00 to $12.00 and set a “neutral” 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 assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Asana currently has a consensus rating of “Hold” and a consensus price target of $15.67.

Asana 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.