Algert Global LLC Acquires 71,551 Shares of Asana, Inc. (NYSE:ASAN)

Algert Global LLC grew its position in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 199.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,441 shares of the company's stock after buying an additional 71,551 shares during the quarter. Algert Global LLC's holdings in Asana were worth $2,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Quarry LP acquired a new stake in Asana in the fourth quarter valued at approximately $29,000. Bogart Wealth LLC bought a new position in shares of Asana during the 4th quarter valued at $61,000. SBI Securities Co. Ltd. acquired a new stake in shares of Asana in the 4th quarter valued at $82,000. KBC Group NV boosted its holdings in Asana by 58.8% in the fourth quarter. KBC Group NV now owns 5,612 shares of the company's stock worth $114,000 after purchasing an additional 2,078 shares in the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in Asana in the fourth quarter worth $135,000. Institutional investors own 26.21% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ASAN. Morgan Stanley cut their target price on Asana from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their target price on Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a report on Tuesday, March 11th. Piper Sandler decreased their target price on Asana from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. DA Davidson lowered their price target on Asana from $20.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Finally, Jefferies Financial Group reduced their price objective on shares of Asana from $19.00 to $15.00 and set a "hold" rating for the company in a research note 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. According to data from MarketBeat, Asana has a consensus rating of "Hold" and an average target price of $15.53.

Insider Activity

In other news, CEO Dustin A. Moskovitz bought 225,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $12.91 per share, for a total transaction of $2,904,750.00. Following the transaction, the chief executive officer now directly owns 48,123,436 shares of the company's stock, valued at $621,273,558.76. This trade represents a 0.47% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Anne Raimondi sold 18,775 shares of the business's stock in a transaction dated 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 owns 716,580 shares in the company, valued at approximately $10,053,617.40. This trade represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 2,074,507 shares of company stock worth $30,025,743 and have sold 193,775 shares worth $3,549,663. Corporate insiders own 61.28% of the company's stock.

Asana Price Performance

NYSE ASAN traded up $0.11 on Wednesday, reaching $18.34. The company's stock had a trading volume of 619,947 shares, compared to its average volume of 2,739,269. Asana, Inc. has a 52 week low of $11.05 and a 52 week 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. The firm has a market cap of $4.27 billion, a PE ratio of -16.37 and a beta of 1.21. The business has a 50-day moving average price of $15.31 and a 200 day moving average price of $17.80.

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.