35,591 Shares in Asana, Inc. (NYSE:ASAN) Purchased by FORA Capital LLC

FORA Capital LLC acquired a new stake in Asana, Inc. (NYSE:ASAN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 35,591 shares of the company's stock, valued at approximately $721,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new stake in Asana in the 4th quarter valued at $38,966,000. Paradice Investment Management LLC acquired a new stake in shares of Asana during the 4th quarter worth about $22,507,000. Voya Investment Management LLC boosted its holdings in shares of Asana by 8.1% during the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock worth $254,166,000 after buying an additional 937,726 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Asana in the 4th quarter valued at about $11,781,000. Finally, Trexquant Investment LP bought a new position in Asana in the 4th quarter valued at about $11,391,000. Institutional investors own 26.21% of the company's stock.

Asana Stock Down 0.2 %

NYSE ASAN opened at $17.21 on Friday. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The business has a fifty day moving average price of $15.32 and a two-hundred day moving average price of $17.67. 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 $4.01 billion, a PE ratio of -15.37 and a beta of 1.21.

Insider Buying and Selling

In other news, COO Anne Raimondi sold 18,775 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.03, for a total value of $263,413.25. Following the completion of the transaction, the chief operating officer now owns 716,580 shares of the company's stock, valued at approximately $10,053,617.40. This represents a 2.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justin Rosenstein sold 25,000 shares of Asana stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $12.89, for a total transaction of $322,250.00. Following the sale, the director now directly owns 922,309 shares in the company, valued at $11,888,563.01. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 2,074,507 shares of company stock worth $30,025,743 and sold 193,775 shares worth $3,549,663. 63.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ASAN. JMP Securities set a $22.00 price objective on Asana in a report on Tuesday, March 11th. JPMorgan Chase & Co. reduced their price target on Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a research note on Tuesday, March 11th. Jefferies Financial Group lowered their price objective on Asana from $19.00 to $15.00 and set a "hold" rating on the stock in a research report on Tuesday, March 11th. Robert W. Baird reduced their target price on shares of Asana from $23.00 to $13.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, Scotiabank lowered their price target on shares of Asana from $18.00 to $12.00 and set a "sector perform" rating on the stock 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 company's stock. According to data from MarketBeat, Asana has an average rating of "Hold" and an average target price of $15.53.

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.

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