Schonfeld Strategic Advisors LLC Invests $1.89 Million in Asana, Inc. (NYSE:ASAN)

Schonfeld Strategic Advisors LLC purchased a new stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 93,360 shares of the company's stock, valued at approximately $1,892,000.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Asana by 105.6% during the 3rd 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. Virtu Financial LLC bought a new stake in Asana during the 4th quarter valued at approximately $2,349,000. Meeder Asset Management Inc. boosted its position in Asana by 49.2% during the 4th quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company's stock valued at $1,572,000 after acquiring an additional 25,564 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Asana by 7.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company's stock valued at $14,083,000 after acquiring an additional 48,831 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in Asana during the 4th quarter valued at approximately $762,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Asana Stock Performance

ASAN traded down $0.04 during mid-day trading on Friday, reaching $17.21. 1,766,095 shares of the company traded hands, compared to its average volume of 2,742,848. The stock has a market capitalization of $4.01 billion, a P/E ratio of -15.37 and a beta of 1.21. 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's fifty day moving average price is $15.32 and its 200-day moving average price is $17.75. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ASAN. Bank of America dropped their price target on Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, March 11th. UBS Group dropped their price target on Asana from $18.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Morgan Stanley dropped their price target on Asana from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Robert W. Baird dropped their price target on Asana from $23.00 to $13.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Finally, JMP Securities set a $22.00 price target on Asana in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $15.53.

Insider Buying and Selling at Asana

In other news, COO Anne Raimondi sold 18,775 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total value 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 $10,053,617.40. This represents a 2.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Justin Rosenstein sold 150,000 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $19.76, for a total value of $2,964,000.00. Following the completion of the sale, the director now owns 1,097,309 shares of the company's stock, valued at $21,682,825.84. This trade represents a 12.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 2,074,507 shares of company stock worth $30,025,743 and sold 193,775 shares worth $3,549,663. Company insiders own 63.97% of the company's stock.

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.