Asana, Inc. (NYSE:ASAN) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. increased its position in shares of Asana, Inc. (NYSE:ASAN) by 280.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 287,353 shares of the company’s stock after purchasing an additional 211,769 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Asana were worth $5,825,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ASAN. Quarry LP acquired a new position in Asana during the fourth quarter worth $29,000. Bogart Wealth LLC acquired a new position in Asana during the fourth quarter worth $61,000. SBI Securities Co. Ltd. acquired a new position in Asana during the fourth quarter worth $82,000. KBC Group NV raised its holdings in Asana by 58.8% during the fourth quarter. KBC Group NV now owns 5,612 shares of the company’s stock worth $114,000 after purchasing an additional 2,078 shares during the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in Asana during the fourth quarter worth $135,000. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Trading Up 1.5%

Shares of ASAN opened at $18.22 on Wednesday. The stock’s 50-day moving average is $15.31 and its two-hundred day moving average is $17.80. The stock has a market cap of $4.25 billion, a PE ratio of -16.27 and a beta of 1.21. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. 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 related news, COO Anne Raimondi sold 18,775 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $14.03, for a total value of $263,413.25. Following the transaction, the chief operating officer now owns 716,580 shares in the company, valued at approximately $10,053,617.40. The trade was a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $12.91 per share, for a total transaction of $2,904,750.00. Following the purchase, the chief executive officer now owns 48,123,436 shares of the company’s stock, valued at approximately $621,273,558.76. This represents a 0.47% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 2,074,507 shares of company stock worth $30,025,743 and have sold 193,775 shares worth $3,549,663. 63.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group dropped their price target on Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Scotiabank dropped their price target on Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a research report on Tuesday, March 11th. Morgan Stanley dropped their price target on Asana from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Citigroup raised their price target on Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Finally, Jefferies Financial Group dropped their price target on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Asana currently has an average rating of “Hold” and a consensus price target of $15.53.

Asana Company 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.