Aquatic Capital Management LLC Grows Stock Holdings in Asana, Inc. (NYSE:ASAN)

Aquatic Capital Management LLC grew its position in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 233.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 142,516 shares of the company's stock after purchasing an additional 99,816 shares during the period. Aquatic Capital Management LLC owned about 0.06% of Asana worth $2,889,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Voya Investment Management LLC grew its position in Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after acquiring an additional 937,726 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Asana in the 4th quarter valued at $38,966,000. First Trust Advisors LP grew its holdings in shares of Asana by 17.6% during the 4th quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock valued at $35,350,000 after purchasing an additional 261,298 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in Asana by 0.5% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 1,377,704 shares of the company's stock worth $27,926,000 after purchasing an additional 7,269 shares during the period. Finally, Paradice Investment Management LLC bought a new stake in Asana in the fourth quarter worth $22,507,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Asana

In related news, Director Justin Rosenstein sold 196,067 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $21.78, for a total transaction of $4,270,339.26. Following the completion of the sale, the director now owns 1,651,242 shares of the company's stock, valued at $35,964,050.76. This trade represents a 10.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Anne Raimondi sold 18,775 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $14.03, for a total value of $263,413.25. Following the completion of the transaction, the chief operating officer now directly owns 716,580 shares in the company, valued at $10,053,617.40. This trade represents a 2.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 2,074,507 shares of company stock valued at $30,025,743 and sold 589,842 shares valued at $12,154,003. 63.97% of the stock is owned by corporate insiders.

Asana Price Performance

ASAN stock opened at $16.00 on Monday. 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 firm has a 50 day moving average price of $16.02 and a 200-day moving average price of $17.45. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -14.29 and a beta of 1.23.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ASAN shares. UBS Group reduced their price objective on Asana from $18.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. 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. JPMorgan Chase & Co. dropped their price objective on Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a research note on Tuesday, March 11th. Piper Sandler cut their target price on shares of Asana from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, DA Davidson lowered their price target 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. Two equities research 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. According to data from MarketBeat.com, the stock presently has an average 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.

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