Blue Trust Inc. Buys 20,045 Shares of Asana, Inc. (NYSE:ASAN)

Blue Trust Inc. grew its holdings in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 1,934.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,081 shares of the company's stock after acquiring an additional 20,045 shares during the quarter. Blue Trust Inc.'s holdings in Asana were worth $427,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. KBC Group NV grew its position in Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company's stock worth $41,000 after acquiring an additional 1,211 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Asana during the third quarter worth about $43,000. MQS Management LLC acquired a new position in shares of Asana in the third quarter valued at approximately $141,000. Paloma Partners Management Co bought a new position in Asana in the 3rd quarter valued at approximately $143,000. Finally, Quadrature Capital Ltd acquired a new stake in Asana during the 3rd quarter worth approximately $189,000. Institutional investors own 26.21% of the company's stock.

Insiders Place Their Bets

In related news, COO Anne Raimondi sold 27,233 shares of the company's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.71, for a total transaction of $591,228.43. Following the transaction, the chief operating officer now directly owns 733,855 shares of the company's stock, valued at approximately $15,931,992.05. This represents a 3.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justin Rosenstein sold 150,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total value of $3,001,500.00. Following the completion of the transaction, the director now owns 2,047,309 shares in the company, valued at approximately $40,966,653.09. The trade was a 6.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 377,233 shares of company stock worth $7,926,728. 63.97% of the stock is currently owned by company insiders.

Asana Trading Up 3.5 %

Shares of ASAN stock traded up $0.75 during trading hours on Tuesday, hitting $21.92. 2,512,455 shares of the company were exchanged, compared to its average volume of 3,250,374. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The company has a 50 day simple moving average of $20.46 and a two-hundred day simple moving average of $15.60. The firm has a market cap of $5.01 billion, a P/E ratio of -19.57 and a beta of 1.11.

Analysts Set New Price Targets

Several equities analysts have issued reports on ASAN shares. Morgan Stanley upped their price target on shares of Asana from $14.00 to $18.00 and gave the company an "equal weight" rating in a research report on Friday, December 6th. Piper Sandler upgraded Asana from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $19.00 to $27.00 in a report on Monday, January 6th. Citigroup lifted their target price on Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. JPMorgan Chase & Co. increased their price target on Asana from $13.00 to $15.00 and gave the company an "underweight" rating in a research note on Friday, December 6th. Finally, DA Davidson lifted their price objective on Asana from $13.00 to $20.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $17.73.

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.