Invesco Ltd. Buys 339,566 Shares of Asana, Inc. (NYSE:ASAN)

Invesco Ltd. increased its stake in Asana, Inc. (NYSE:ASAN - Free Report) by 948.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 375,352 shares of the company's stock after purchasing an additional 339,566 shares during the quarter. Invesco Ltd. owned approximately 0.16% of Asana worth $7,608,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of 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 purchasing an additional 427,576 shares in the last quarter. Virtu Financial LLC bought a new stake in Asana during the 4th quarter valued at $2,349,000. Meeder Asset Management Inc. increased its holdings 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 purchasing an additional 25,564 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Asana by 7.6% during the fourth 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 purchased a new stake in shares of Asana in the 4th quarter worth about $762,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Insiders Place Their Bets

In related news, COO Anne Raimondi sold 18,775 shares of Asana 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 transaction, the chief operating officer now directly owns 716,580 shares in the company, valued at $10,053,617.40. The trade was a 2.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Dustin A. Moskovitz purchased 50,000 shares of Asana stock in a transaction dated Tuesday, April 15th. The stock was bought at an average cost of $15.84 per share, with a total value of $792,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,398,436 shares of the company's stock, valued at $814,151,226.24. This represents a 0.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 2,074,507 shares of company stock valued at $30,025,743 and sold 389,842 shares valued at $7,820,003. 63.97% of the stock is currently owned by company insiders.

Asana Stock Up 0.5 %

ASAN stock traded up $0.08 during midday trading on Wednesday, reaching $16.16. 2,060,254 shares of the company were exchanged, compared to its average volume of 2,747,020. The stock's 50-day simple moving average is $15.68 and its 200 day simple moving average is $17.46. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market cap of $3.77 billion, a price-to-earnings ratio of -14.43 and a beta of 1.23.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ASAN shares. JMP Securities set a $22.00 price objective on shares of Asana in a report on Tuesday, March 11th. Piper Sandler lowered their price objective on shares of Asana from $18.00 to $17.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Scotiabank decreased their target price on Asana from $18.00 to $12.00 and set a "sector perform" rating on the stock in a report on Tuesday, March 11th. Citigroup increased their price target on Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Finally, UBS Group decreased their price target on shares of Asana from $18.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Two investment 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $15.53.

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.