66,707 Shares in Asana, Inc. (NYSE:ASAN) Acquired by Raymond James Financial Inc.

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

Several other institutional investors and hedge funds have also made changes to their positions in ASAN. Arrowstreet Capital Limited Partnership purchased a new position in Asana in the 4th quarter worth about $38,966,000. Paradice Investment Management LLC bought a new stake in shares of Asana during the fourth quarter valued at approximately $22,507,000. JPMorgan Chase & Co. raised its stake in shares of Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company's stock valued at $9,650,000 after acquiring an additional 427,576 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Asana by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 805,649 shares of the company's stock valued at $16,331,000 after purchasing an additional 11,896 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Asana by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company's stock worth $14,083,000 after purchasing an additional 48,831 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ASAN has been the subject of several research reports. Scotiabank lowered their target price on Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a report on Tuesday, March 11th. Bank of America lowered their price objective on shares of Asana from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, March 11th. Citigroup raised their target price on shares of Asana from $16.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, January 16th. Piper Sandler lowered their price target on shares of Asana from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, JMP Securities set a $22.00 price objective on shares of Asana in a report on Tuesday, March 11th. Two 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. Based on data from MarketBeat, Asana presently has a consensus rating of "Hold" and a consensus price target of $15.53.

Insider Activity

In other Asana news, 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 transaction, the chief operating officer now directly owns 716,580 shares of the company's stock, valued at approximately $10,053,617.40. This trade represents a 2.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $12.91 per share, with a total value of $2,904,750.00. Following the completion of the purchase, the chief executive officer now owns 48,123,436 shares in the company, valued at approximately $621,273,558.76. This trade represents a 0.47 % increase in their position. 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 389,842 shares valued at $7,820,003. Corporate insiders own 63.97% of the company's stock.

Asana Trading Up 1.3 %

Shares of Asana stock opened at $16.26 on Friday. The firm's 50 day simple moving average is $15.55 and its two-hundred day simple moving average is $17.55. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of -14.52 and a beta of 1.23. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $27.77. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17.

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.

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