Intech Investment Management LLC Purchases 9,426 Shares of Asana, Inc. (NYSE:ASAN)

Intech Investment Management LLC lifted its position in shares of Asana, Inc. (NYSE:ASAN) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,729 shares of the company’s stock after acquiring an additional 9,426 shares during the quarter. Intech Investment Management LLC’s holdings in Asana were worth $988,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after acquiring an additional 427,576 shares during the last quarter. XTX Topco Ltd bought a new stake in Asana in the third quarter valued at about $538,000. Neo Ivy Capital Management increased its holdings in Asana by 195.1% in the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock valued at $1,964,000 after purchasing an additional 112,038 shares during the last quarter. Friedenthal Financial bought a new stake in Asana in the fourth quarter valued at about $762,000. Finally, Barclays PLC increased its holdings in Asana by 103.0% in the third quarter. Barclays PLC now owns 165,753 shares of the company’s stock valued at $1,920,000 after purchasing an additional 84,114 shares during the last quarter. Institutional investors own 26.21% of the company’s stock.

Insider Transactions at Asana

In related news, CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average cost of $14.02 per share, with a total value of $3,154,500.00. Following the completion of the transaction, the chief executive officer now owns 48,573,436 shares of the company’s stock, valued at approximately $680,999,572.72. This trade represents a 0.47 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justin Rosenstein sold 200,000 shares of the 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 transaction, the director now directly owns 1,847,309 shares of the company’s stock, valued at $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 three months, insiders bought 675,000 shares of company stock valued at $9,285,750 and sold 721,067 shares valued at $14,892,089. 63.97% of the stock is owned by insiders.

Asana Stock Up 3.1 %

ASAN stock opened at $14.44 on Friday. 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 stock has a market capitalization of $3.30 billion, a P/E ratio of -12.89 and a beta of 1.13. The business has a 50-day moving average of $19.39 and a 200-day moving average of $16.83. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77.

Analysts Set New Price Targets

A number of research firms recently commented on ASAN. DA Davidson dropped 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. JMP Securities set a $22.00 price objective on Asana in a report on Tuesday, March 11th. Jefferies Financial Group lowered their price target on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, March 11th. Scotiabank lowered their price target on Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a report on Tuesday, March 11th. Finally, Royal Bank of Canada restated an “underperform” rating and issued a $10.00 price target on shares of Asana in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Asana presently has an average rating of “Hold” and a consensus target price of $15.67.

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.