Raymond James Financial Inc. Takes $1.35 Million Position in Asana, Inc. (NYSE:ASAN)

Raymond James Financial Inc. purchased a new stake in Asana, Inc. (NYSE:ASAN - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 66,707 shares of the company's stock, valued at approximately $1,352,000.

Other hedge funds also recently bought and sold shares of the company. KBC Group NV lifted its holdings in shares of Asana by 58.8% during the 4th quarter. KBC Group NV now owns 5,612 shares of the company's stock valued at $114,000 after acquiring an additional 2,078 shares in the last quarter. Handelsbanken Fonder AB raised its position in Asana by 19.0% in the 4th quarter. Handelsbanken Fonder AB now owns 18,200 shares of the company's stock valued at $369,000 after purchasing an additional 2,900 shares during the last quarter. Bogart Wealth LLC bought a new position in Asana during the fourth quarter worth about $61,000. New York State Common Retirement Fund increased its holdings in Asana by 13.6% during the fourth quarter. New York State Common Retirement Fund now owns 25,300 shares of the company's stock worth $513,000 after buying an additional 3,038 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Asana by 29.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,473 shares of the company's stock valued at $278,000 after buying an additional 3,083 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company's stock.

Insider Activity

In other Asana news, COO Anne Raimondi sold 18,775 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was 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 of the company's stock, valued at $10,053,617.40. This represents a 2.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $12.91 per share, with a total value of $2,904,750.00. Following the completion of the transaction, the chief executive officer now directly owns 48,123,436 shares in the company, valued at approximately $621,273,558.76. The trade was a 0.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 2,074,507 shares of company stock valued at $30,025,743 and have sold 193,775 shares valued at $3,549,663. Corporate insiders own 63.97% of the company's stock.

Asana Price Performance

Shares of NYSE:ASAN traded down $0.09 during trading on Friday, hitting $17.16. 586,633 shares of the company's stock were exchanged, compared to its average volume of 2,728,741. The company has a market cap of $4.00 billion, a price-to-earnings ratio of -15.32 and a beta of 1.21. The business's 50-day simple moving average is $15.35 and its 200 day simple moving average is $17.64. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JMP Securities set a $22.00 price target on shares of Asana in a report on Tuesday, March 11th. Piper Sandler reduced their price objective on Asana from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley reduced their price target on shares of Asana from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. DA Davidson lowered their price objective on shares of Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Finally, Citigroup increased their price target on shares of Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. 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 company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $15.53.

Asana Company 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.