Alliancebernstein L.P. Acquires 126,766 Shares of Asana, Inc. (NYSE:ASAN)

Alliancebernstein L.P. raised its position in Asana, Inc. (NYSE:ASAN - Free Report) by 144.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 214,266 shares of the company's stock after purchasing an additional 126,766 shares during the quarter. Alliancebernstein L.P. owned 0.09% of Asana worth $4,343,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership acquired a new stake in Asana during the 4th quarter worth approximately $38,966,000. Paradice Investment Management LLC acquired a new position in shares of Asana during the fourth quarter worth $22,507,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Asana in the fourth quarter worth $11,781,000. JPMorgan Chase & Co. increased its holdings in Asana by 105.6% in the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company's stock valued at $9,650,000 after purchasing an additional 427,576 shares during the period. Finally, Brooklyn FI LLC bought a new position in Asana during the 4th quarter worth $8,138,000. 26.21% of the stock is currently owned by institutional investors.

Insider Activity at Asana

In related news, Director Justin Rosenstein sold 200,000 shares of Asana stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $21.67, for a total transaction of $4,334,000.00. Following the transaction, the director now owns 1,847,309 shares of the company's stock, valued at $40,031,186.03. The trade was a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dustin A. Moskovitz bought 225,000 shares of Asana stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $12.91 per share, with a total value of $2,904,750.00. Following the purchase, the chief executive officer now owns 48,123,436 shares in the company, valued at approximately $621,273,558.76. This represents a 0.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 2,074,507 shares of company stock valued at $30,025,743 and sold 739,842 shares valued at $15,155,503. 63.97% of the stock is currently owned by insiders.

Asana Stock Down 1.4 %

Asana stock traded down $0.21 during mid-day trading on Friday, reaching $14.84. The stock had a trading volume of 1,683,310 shares, compared to its average volume of 2,745,128. The firm has a market capitalization of $3.46 billion, a PE ratio of -13.25 and a beta of 1.23. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The stock's 50-day simple moving average is $16.85 and its 200-day simple moving average is $17.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49.

Analyst Ratings Changes

Several brokerages have recently weighed in on ASAN. Scotiabank decreased their price target on Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. decreased their target price on shares of Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a research report on Tuesday, March 11th. Bank of America dropped 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. Robert W. Baird decreased their price objective 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. Finally, Citigroup boosted their target price on shares of Asana from $16.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Asana currently has an average rating of "Hold" and a consensus target price of $15.60.

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.