Brooklyn FI LLC Acquires New Stake in Asana, Inc. (NYSE:ASAN)

Brooklyn FI LLC bought a new stake in Asana, Inc. (NYSE:ASAN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 401,494 shares of the company's stock, valued at approximately $8,138,000. Brooklyn FI LLC owned 0.18% of Asana as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in ASAN. GSA Capital Partners LLP bought a new stake in shares of Asana in the third quarter valued at about $497,000. KBC Group NV lifted its holdings in shares of Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company's stock valued at $41,000 after purchasing an additional 1,211 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Asana in the third quarter valued at about $43,000. Meeder Asset Management Inc. bought a new stake in shares of Asana in the third quarter valued at about $603,000. Finally, Intech Investment Management LLC bought a new stake in shares of Asana in the third quarter valued at about $456,000. 26.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Asana news, CEO Dustin A. Moskovitz bought 225,000 shares of the business's stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $12.91 per share, for a total transaction of $2,904,750.00. Following the completion of the purchase, the chief executive officer now directly owns 48,123,436 shares of the company's stock, valued at approximately $621,273,558.76. This trade represents a 0.47 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Justin Rosenstein sold 196,067 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $21.78, for a total value of $4,270,339.26. Following the completion of the transaction, the director now owns 1,651,242 shares of the company's stock, valued at $35,964,050.76. The trade was a 10.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 675,000 shares of company stock valued at $9,285,750 and have sold 721,067 shares valued at $14,892,089. 63.97% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ASAN shares. Scotiabank cut their price target on Asana from $18.00 to $12.00 and set a "sector perform" rating on the stock in a report on Tuesday, March 11th. JPMorgan Chase & Co. cut their price target on Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a report on Tuesday, March 11th. UBS Group dropped their target price on Asana from $18.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Bank of America dropped their target price on Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. Finally, Royal Bank of Canada reiterated an "underperform" rating and set a $10.00 target price on shares of Asana in a report on Friday, December 6th. Two 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $15.67.

Asana Stock Performance

NYSE ASAN traded up $0.44 during trading on Friday, reaching $14.44. 4,062,938 shares of the company's stock were exchanged, compared to its average volume of 2,578,045. The business has a 50 day moving average price of $19.39 and a 200-day moving average price of $16.83. The stock has a market capitalization of $3.30 billion, a P/E ratio of -12.89 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77.

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.