MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Position in Asana, Inc. (NYSE:ASAN)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Asana, Inc. (NYSE:ASAN) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,218 shares of the company’s stock after buying an additional 2,538 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Asana were worth $937,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in Asana in the 4th quarter valued at about $2,349,000. Meeder Asset Management Inc. lifted its position in shares of Asana by 49.2% in the fourth quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company’s stock valued at $1,572,000 after acquiring an additional 25,564 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Asana by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company’s stock valued at $14,083,000 after acquiring an additional 48,831 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Asana in the fourth quarter worth approximately $1,310,000. Finally, Barclays PLC increased its position in shares of Asana by 103.0% during the third quarter. Barclays PLC now owns 165,753 shares of the company’s stock worth $1,920,000 after purchasing an additional 84,114 shares in the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ASAN. JPMorgan Chase & Co. decreased their price objective on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Tuesday, March 11th. Scotiabank decreased 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 note on Tuesday, March 11th. Bank of America lowered their price target on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. DA Davidson cut their price objective on shares of Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, UBS Group decreased their target price 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. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Asana has a consensus rating of “Hold” and a consensus price target of $15.53.

Asana Trading Down 1.3%

ASAN opened at $17.47 on Tuesday. The stock has a market capitalization of $4.07 billion, a PE ratio of -15.60 and a beta of 1.21. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The business’s 50 day moving average price is $15.90 and its 200 day moving average price is $18.14.

Insiders Place Their Bets

In other news, Director Justin Rosenstein sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $12.89, for a total value of $322,250.00. Following the transaction, the director now directly owns 922,309 shares in the company, valued at approximately $11,888,563.01. This represents a 2.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dustin A. Moskovitz acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were bought at an average cost of $15.84 per share, with a total value of $792,000.00. Following the transaction, the chief executive officer now directly owns 51,398,436 shares in the company, valued at $814,151,226.24. This trade represents a 0.10% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 2,074,507 shares of company stock valued at $30,025,743 over the last quarter. 61.28% of the stock is owned by insiders.

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.