25,000 Shares in Asana, Inc. (NYSE:ASAN) Bought by Ardsley Advisory Partners LP

Ardsley Advisory Partners LP purchased a new stake in Asana, Inc. (NYSE:ASAN - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 25,000 shares of the company's stock, valued at approximately $507,000.

Other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new position in Asana during the fourth quarter worth approximately $29,000. Bogart Wealth LLC acquired a new stake in shares of Asana during the fourth quarter worth about $61,000. SBI Securities Co. Ltd. purchased a new position in shares of Asana during the 4th quarter worth approximately $82,000. KBC Group NV raised its holdings in Asana by 58.8% during 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 during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in Asana during the fourth quarter worth $135,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on ASAN. JPMorgan Chase & Co. decreased their price objective on shares of Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a research note on Tuesday, March 11th. Bank of America dropped their target price on shares of Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. JMP Securities set a $22.00 price objective on shares of Asana in a research report on Tuesday, March 11th. DA Davidson reduced their price target on Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, UBS Group reduced their price target on shares of Asana from $18.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Asana currently has a consensus rating of "Hold" and a consensus target price of $15.53.

Asana Stock Performance

Shares of Asana stock traded up $0.65 during trading hours on Thursday, reaching $17.38. 556,417 shares of the stock traded hands, compared to its average volume of 2,732,330. The company has a 50 day moving average price of $15.38 and a 200 day moving average price of $17.60. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of -15.52 and a beta of 1.21. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17.

Insider Activity

In other news, Director Justin Rosenstein sold 150,000 shares of Asana stock in a transaction on Monday, February 24th. The shares were sold at an average price of $19.76, for a total transaction of $2,964,000.00. Following the completion of the sale, the director now directly owns 1,097,309 shares in the company, valued at approximately $21,682,825.84. The trade was a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Anne Raimondi sold 18,775 shares of the business's stock in a transaction 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 transaction, the chief operating officer now owns 716,580 shares of the company's stock, valued at $10,053,617.40. This represents a 2.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 2,074,507 shares of company stock worth $30,025,743 and have sold 193,775 shares worth $3,549,663. Corporate insiders own 63.97% of the company's stock.

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.