Jump Financial LLC Purchases Shares of 331,200 Asana, Inc. (NYSE:ASAN)

Jump Financial LLC purchased a new position in Asana, Inc. (NYSE:ASAN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 331,200 shares of the company's stock, valued at approximately $6,713,000. Jump Financial LLC owned about 0.14% of Asana at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership purchased a new stake in Asana in the fourth quarter valued at approximately $38,966,000. Geode Capital Management LLC raised its holdings in shares of Asana by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company's stock worth $21,605,000 after purchasing an additional 12,055 shares during the period. Paradice Investment Management LLC acquired a new position in shares of Asana in the 4th quarter valued at about $22,507,000. JPMorgan Chase & Co. grew its holdings in shares of Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company's stock worth $9,650,000 after purchasing an additional 427,576 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Asana by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 805,649 shares of the company's stock worth $16,331,000 after purchasing an additional 11,896 shares in the last quarter. Hedge funds and other institutional investors own 26.21% of the company's stock.

Asana Stock Performance

ASAN traded down $0.21 on Friday, hitting $14.84. 1,683,310 shares of the company's stock were exchanged, compared to its average volume of 2,745,128. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The stock has a fifty day moving average of $16.85 and a two-hundred day moving average of $17.24. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The firm has a market cap of $3.46 billion, a PE ratio of -13.25 and a beta of 1.23.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ASAN shares. DA Davidson dropped their price objective on shares of Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Citigroup boosted their price objective on Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Jefferies Financial Group reduced their price target on Asana from $19.00 to $15.00 and set a "hold" rating on the stock in a research report on Tuesday, March 11th. Morgan Stanley lowered their price objective on shares of Asana from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, Piper Sandler reduced their target price on shares of Asana from $27.00 to $18.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Asana has a consensus rating of "Hold" and an average target price of $15.60.

Insider Activity at Asana

In other Asana news, CEO Dustin A. Moskovitz acquired 50,000 shares of Asana stock in a transaction dated Tuesday, April 15th. The stock was acquired at an average cost of $15.84 per share, for a total transaction of $792,000.00. Following the completion of the transaction, the chief executive officer now owns 51,398,436 shares in the company, valued at approximately $814,151,226.24. This represents a 0.10 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Justin Rosenstein sold 200,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $21.67, for a total value of $4,334,000.00. Following the completion of the sale, the director now owns 1,847,309 shares in the company, valued at approximately $40,031,186.03. This represents a 9.77 % 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 worth $30,025,743 and sold 739,842 shares worth $15,155,503. Insiders own 63.97% of the company's stock.

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.