Meeder Asset Management Inc. Increases Stock Position in Asana, Inc. (NYSE:ASAN)

Meeder Asset Management Inc. raised its position in Asana, Inc. (NYSE:ASAN - Free Report) by 49.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 77,576 shares of the company's stock after acquiring an additional 25,564 shares during the period. Meeder Asset Management Inc.'s holdings in Asana were worth $1,572,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ASAN. Arrowstreet Capital Limited Partnership purchased a new position in shares of Asana during the 4th quarter worth approximately $38,966,000. Geode Capital Management LLC raised its position in 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 acquiring an additional 12,055 shares in the last quarter. Paradice Investment Management LLC acquired a new stake in Asana in the fourth quarter valued at $22,507,000. JPMorgan Chase & Co. lifted its holdings in Asana by 105.6% in 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 period. Finally, Bank of New York Mellon Corp grew its stake in shares of 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 during the period. Hedge funds and other institutional investors own 26.21% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Royal Bank of Canada reiterated an "underperform" rating and issued a $10.00 price objective on shares of Asana in a research note on Friday, December 6th. Oppenheimer boosted their price target on Asana from $20.00 to $22.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. DA Davidson reduced their price objective on Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Citigroup boosted their target price on Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Finally, UBS Group dropped their price target on Asana from $18.00 to $14.00 and set a "neutral" rating for the company in a research 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 has a consensus rating of "Hold" and a consensus target price of $15.67.

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Insiders Place Their Bets

In other Asana news, CEO Dustin A. Moskovitz bought 225,000 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was purchased at an average price of $14.41 per share, with a total value of $3,242,250.00. Following the transaction, the chief executive officer now owns 50,147,943 shares in the company, valued at $722,631,858.63. This trade represents a 0.45 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Justin Rosenstein sold 200,000 shares of Asana stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $21.67, for a total transaction of $4,334,000.00. Following the transaction, the director now directly owns 1,847,309 shares in the company, valued at approximately $40,031,186.03. This trade represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,349,507 shares of company stock valued at $19,281,993 and have sold 739,842 shares valued at $15,155,503. 63.97% of the stock is currently owned by insiders.

Asana Trading Down 5.7 %

ASAN traded down $0.83 during midday trading on Friday, hitting $13.71. The company's stock had a trading volume of 1,456,295 shares, compared to its average volume of 2,668,325. The firm has a market cap of $3.19 billion, a P/E ratio of -12.18 and a beta of 1.23. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77. 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 firm has a 50-day moving average price of $18.57 and a two-hundred day moving average price of $17.00.

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.