EAM Investors LLC Buys New Shares in Asana, Inc. (NYSE:ASAN)

EAM Investors LLC purchased a new position in Asana, Inc. (NYSE:ASAN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 203,474 shares of the company's stock, valued at approximately $4,124,000. EAM Investors LLC owned 0.09% of Asana at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its position in shares of Asana by 1,419.9% during the third quarter. FMR LLC now owns 24,029 shares of the company's stock worth $278,000 after acquiring an additional 22,448 shares in the last quarter. Barclays PLC increased its stake in Asana by 103.0% in the 3rd quarter. Barclays PLC now owns 165,753 shares of the company's stock worth $1,920,000 after purchasing an additional 84,114 shares during the period. Geode Capital Management LLC increased its stake in shares of Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company's stock worth $21,605,000 after buying an additional 12,055 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company's stock valued at $9,650,000 after acquiring an additional 427,576 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in Asana in the 4th quarter worth approximately $762,000. 26.21% of the stock is currently owned by institutional investors.

Asana Stock Performance

Shares of NYSE:ASAN traded down $0.21 during midday trading on Friday, reaching $14.84. 1,683,310 shares of the company's stock traded hands, compared to its average volume of 2,745,128. 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 one year low of $11.05 and a one year high of $27.77. The company has a market cap of $3.46 billion, a price-to-earnings ratio of -13.25 and a beta of 1.23. The stock has a 50 day moving average of $16.85 and a 200 day moving average of $17.24.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JMP Securities set a $22.00 target price on shares of Asana in a research report on Tuesday, March 11th. DA Davidson lowered their price objective 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. JPMorgan Chase & Co. reduced their target price on Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a report on Tuesday, March 11th. Jefferies Financial Group decreased their target price on Asana from $19.00 to $15.00 and set a "hold" rating for the company in a research report on Tuesday, March 11th. Finally, Scotiabank dropped their price target on Asana from $18.00 to $12.00 and set a "sector perform" rating on the stock in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $15.60.

Insiders Place Their Bets

In other news, Director Justin Rosenstein sold 25,000 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the transaction, the director now directly owns 922,309 shares of the company's stock, valued at $11,888,563.01. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Anne Raimondi sold 18,775 shares of Asana stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total value of $263,413.25. Following the completion of the sale, the chief operating officer now directly owns 716,580 shares of the company's stock, valued at $10,053,617.40. The trade was a 2.55 % decrease in their position. The disclosure for this sale 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 owned by insiders.

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.