Voya Investment Management LLC Boosts Position in Asana, Inc. (NYSE:ASAN)

Voya Investment Management LLC lifted its holdings in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,539,038 shares of the company's stock after buying an additional 937,726 shares during the quarter. Voya Investment Management LLC owned approximately 5.48% of Asana worth $254,166,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bogart Wealth LLC acquired a new position in shares of Asana during the fourth quarter valued at approximately $61,000. SBI Securities Co. Ltd. purchased a new position in Asana in the 4th quarter valued at $82,000. KBC Group NV lifted its holdings in Asana by 58.8% in the 4th quarter. KBC Group NV now owns 5,612 shares of the company's stock valued at $114,000 after purchasing an additional 2,078 shares in the last quarter. State of Tennessee Department of Treasury acquired a new stake in Asana during the 4th quarter worth $135,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Asana during the fourth quarter worth $163,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Asana Trading Up 0.4 %

NYSE:ASAN traded up $0.06 during trading hours on Tuesday, reaching $16.03. 593,545 shares of the stock were exchanged, compared to its average volume of 2,737,386. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -14.29 and a beta of 1.23. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The business has a 50-day moving average of $15.89 and a two-hundred day moving average of $17.48.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JMP Securities set a $22.00 price target on shares of Asana in a research report on Tuesday, March 11th. Jefferies Financial Group dropped their price target on Asana from $19.00 to $15.00 and set a "hold" rating for the company in a research report on Tuesday, March 11th. Citigroup lifted their price objective on Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Robert W. Baird cut their target price on Asana from $23.00 to $13.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Finally, Piper Sandler dropped their price objective on shares of Asana from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Asana currently has an average rating of "Hold" and a consensus target price of $15.53.

Insiders Place Their Bets

In related news, CEO Dustin A. Moskovitz acquired 50,000 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was acquired at an average price of $15.84 per share, for a total transaction of $792,000.00. Following the purchase, the chief executive officer now owns 51,398,436 shares of the company's stock, valued at $814,151,226.24. This represents a 0.10 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Anne Raimondi sold 18,775 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $14.03, for a total transaction of $263,413.25. Following the completion of the sale, the chief operating officer now directly owns 716,580 shares in the company, valued at approximately $10,053,617.40. This trade represents a 2.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 2,074,507 shares of company stock worth $30,025,743 and have sold 389,842 shares worth $7,820,003. 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.