FORA Capital LLC Takes Position in Asana, Inc. (NYSE:ASAN)

FORA Capital LLC bought a new position in shares of Asana, Inc. (NYSE:ASAN) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 35,591 shares of the company’s stock, valued at approximately $721,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Deutsche Bank AG lifted its holdings in shares of Asana by 30.4% during the fourth quarter. Deutsche Bank AG now owns 184,843 shares of the company’s stock worth $3,747,000 after purchasing an additional 43,053 shares during the period. Centiva Capital LP lifted its holdings in Asana by 66.6% during the 4th quarter. Centiva Capital LP now owns 106,612 shares of the company’s stock worth $2,161,000 after buying an additional 42,623 shares during the period. Bridgefront Capital LLC lifted its holdings in Asana by 88.1% during the 4th quarter. Bridgefront Capital LLC now owns 19,264 shares of the company’s stock worth $390,000 after buying an additional 9,023 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Asana in the 4th quarter valued at about $458,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Asana in the fourth quarter valued at about $1,313,000. 26.21% of the stock is owned by institutional investors.

Asana Price Performance

Shares of NYSE:ASAN opened at $17.21 on Friday. The stock’s 50 day moving average is $15.32 and its 200-day moving average is $17.67. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. 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 firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of -15.37 and a beta of 1.21.

Insiders Place Their Bets

In other news, Director Justin Rosenstein sold 150,000 shares of the firm’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 owns 1,097,309 shares in the company, valued at $21,682,825.84. This trade represents a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average price of $14.02 per share, with a total value of $3,154,500.00. Following the acquisition, the chief executive officer now directly owns 48,573,436 shares of the company’s stock, valued at $680,999,572.72. This represents a 0.47 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 2,074,507 shares of company stock worth $30,025,743 and have sold 193,775 shares worth $3,549,663. Corporate insiders own 63.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ASAN. Jefferies Financial Group cut their price objective on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, March 11th. DA Davidson reduced their price objective on shares of Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note 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. JMP Securities set a $22.00 price target on shares of Asana in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Asana currently 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.