32,231 Shares in Asana, Inc. (NYSE:ASAN) Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets acquired a new position in shares of Asana, Inc. (NYSE:ASAN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 32,231 shares of the company’s stock, valued at approximately $653,000.

A number of other hedge funds have also recently added to or reduced their stakes in ASAN. Ameriprise Financial Inc. bought a new stake in shares of Asana in the 4th quarter valued at about $352,000. Algert Global LLC raised its stake in Asana by 199.4% during the 4th quarter. Algert Global LLC now owns 107,441 shares of the company’s stock worth $2,178,000 after buying an additional 71,551 shares during the period. Ardsley Advisory Partners LP acquired a new position in Asana during the 4th quarter worth approximately $507,000. PDT Partners LLC acquired a new position in Asana during the 4th quarter worth approximately $570,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Asana in the fourth quarter worth approximately $1,892,000. Institutional investors own 26.21% of the company’s stock.

Insider Buying and Selling

In related news, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 1,097,309 shares of the company’s stock, valued at approximately $21,682,825.84. This represents a 12.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $12.91 per share, with a total value of $2,904,750.00. Following the acquisition, the chief executive officer now directly owns 48,123,436 shares in the company, valued at $621,273,558.76. This trade represents a 0.47% increase in their position. The disclosure for this purchase 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. 61.28% of the stock is currently owned by insiders.

Asana Stock Performance

Asana stock opened at $17.47 on Friday. The company has a 50 day moving average price of $15.83 and a 200-day moving average price of $18.06. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The company has a market capitalization of $4.07 billion, a PE ratio of -15.60 and a beta of 1.21.

Analyst Ratings Changes

A number of analysts recently commented on ASAN shares. DA Davidson decreased their price target on Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Piper Sandler reduced their price objective on Asana from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Jefferies Financial Group cut their price target on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, March 11th. Robert W. Baird dropped their price objective on Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Finally, UBS Group dropped their price objective on Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Asana has a consensus rating of “Hold” and an average price target of $15.53.

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.