Virtu Financial LLC Takes $2.35 Million Position in Asana, Inc. (NYSE:ASAN)

Virtu Financial LLC bought a new position in shares of Asana, Inc. (NYSE:ASAN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 115,900 shares of the company's stock, valued at approximately $2,349,000. Virtu Financial LLC owned approximately 0.05% of Asana as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. 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 purchased a new stake in Asana in the 3rd quarter valued at approximately $43,000. Intech Investment Management LLC purchased a new stake in Asana in the 3rd quarter valued at approximately $456,000. Quantbot Technologies LP grew its holdings in Asana by 157.7% during the 3rd quarter. Quantbot Technologies LP now owns 26,008 shares of the company's stock valued at $301,000 after buying an additional 15,917 shares during the last quarter. Finally, FMR LLC increased its position in 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 buying an additional 22,448 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company's stock.

Asana Trading Down 2.7 %

ASAN stock traded down $0.42 during trading on Thursday, reaching $14.77. 1,791,334 shares of the stock traded hands, compared to its average volume of 2,582,685. The firm has a market capitalization of $3.38 billion, a PE ratio of -13.18 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. The business's 50 day moving average price is $19.16 and its 200-day moving average price is $16.89. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77.

Remove Ads

Insider Transactions at Asana

In other news, Director Justin Rosenstein sold 150,000 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total value of $3,001,500.00. Following the completion of the sale, the director now owns 2,047,309 shares of the company's stock, valued at $40,966,653.09. This represents a 6.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dustin A. Moskovitz bought 225,000 shares of Asana stock in a transaction that occurred on Monday, March 17th. The shares were acquired at an average price of $14.02 per share, for a total transaction of $3,154,500.00. Following the acquisition, the chief executive officer now directly owns 48,573,436 shares in the company, valued at approximately $680,999,572.72. This represents a 0.47 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 900,000 shares of company stock worth $12,735,000 and sold 739,842 shares worth $15,155,503. Company insiders own 63.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ASAN shares. Scotiabank reduced their price objective 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. Royal Bank of Canada restated an "underperform" rating and issued a $10.00 target price on shares of Asana in a report on Friday, December 6th. Morgan Stanley lowered their price target on shares of Asana from $18.00 to $15.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. JPMorgan Chase & Co. cut their price objective on shares of Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a research report on Tuesday, March 11th. Finally, JMP Securities set a $22.00 target price on shares of Asana in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Asana presently has a consensus rating of "Hold" and an average target price of $15.67.

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.