1,110,357 Shares in Asana, Inc. (NYSE:ASAN) Acquired by Paradice Investment Management LLC

Paradice Investment Management LLC purchased a new stake in Asana, Inc. (NYSE:ASAN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,110,357 shares of the company's stock, valued at approximately $22,507,000. Asana comprises approximately 4.5% of Paradice Investment Management LLC's investment portfolio, making the stock its 12th biggest position. Paradice Investment Management LLC owned 0.49% of Asana at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ASAN. JPMorgan Chase & Co. boosted 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 purchasing an additional 427,576 shares during the last quarter. Holocene Advisors LP raised its position in shares of Asana by 62.2% in the third quarter. Holocene Advisors LP now owns 305,167 shares of the company's stock worth $3,537,000 after acquiring an additional 116,998 shares during the period. Neo Ivy Capital Management raised its position in shares of Asana by 195.1% in the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company's stock worth $1,964,000 after acquiring an additional 112,038 shares during the period. Savant Capital LLC acquired a new position in shares of Asana in the fourth quarter worth about $1,779,000. Finally, Barclays PLC raised its position in shares of Asana by 103.0% in the third quarter. Barclays PLC now owns 165,753 shares of the company's stock worth $1,920,000 after acquiring an additional 84,114 shares during the period. 26.21% of the stock is owned by hedge funds and other institutional investors.

Asana Price Performance

ASAN stock traded down $1.15 during mid-day trading on Friday, reaching $20.80. The company's stock had a trading volume of 3,139,997 shares, compared to its average volume of 3,117,994. The company's 50 day moving average is $21.47 and its two-hundred day moving average is $16.38. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two 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 stock has a market cap of $4.76 billion, a PE ratio of -18.57 and a beta of 1.11.

Analysts Set New Price Targets

A number of brokerages have weighed in on ASAN. Robert W. Baird upped their price objective on shares of Asana from $13.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Oppenheimer upped their price objective on shares of Asana from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Citigroup upped their price objective on shares of Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Scotiabank upped their price objective on shares of Asana from $15.00 to $18.00 and gave the stock a "sector perform" rating in a research report on Friday, December 6th. Finally, Morgan Stanley upped their price target on shares of Asana from $14.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Friday, December 6th. Two equities 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, the stock has a consensus rating of "Hold" and a consensus price target of $17.73.

Insider Activity

In other news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $21.71, for a total value of $591,228.43. Following the completion of the sale, the chief operating officer now owns 733,855 shares of the company's stock, valued at $15,931,992.05. This represents a 3.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Justin Rosenstein sold 150,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the completion of the sale, the director now directly owns 2,047,309 shares of the company's stock, valued at approximately $40,966,653.09. This trade represents a 6.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 573,300 shares of company stock valued at $12,197,068 in the last 90 days. Company insiders own 63.97% of the company's stock.

About Asana

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.