Asana, Inc. (NYSE:ASAN) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. increased its holdings in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 280.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 287,353 shares of the company's stock after purchasing an additional 211,769 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.13% of Asana worth $5,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Asana during the 4th quarter worth about $29,000. Bogart Wealth LLC purchased a new stake in shares of Asana in the fourth quarter worth about $61,000. SBI Securities Co. Ltd. acquired a new stake in Asana during the fourth quarter worth about $82,000. KBC Group NV grew 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 acquiring an additional 2,078 shares during the period. Finally, State of Tennessee Department of Treasury purchased a new position in Asana during the fourth quarter valued at approximately $135,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on ASAN. JMP Securities set a $22.00 price objective on Asana in a research report on Tuesday, March 11th. Scotiabank lowered their price target on shares of Asana from $18.00 to $12.00 and set a "sector perform" rating on the stock in a report on Tuesday, March 11th. Bank of America cut their price objective on shares of Asana from $30.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, March 11th. UBS Group lowered their target price 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. Finally, DA Davidson dropped their target price on Asana from $20.00 to $12.00 and set a "neutral" rating on the stock in a research 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 MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.53.

Asana Price Performance

Shares of NYSE ASAN traded up $0.04 during midday trading on Monday, hitting $18.26. The stock had a trading volume of 391,430 shares, compared to its average volume of 2,764,674. 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 stock has a 50 day simple moving average of $15.44 and a 200-day simple moving average of $17.97. The company has a market capitalization of $4.26 billion, a PE ratio of -16.26 and a beta of 1.21. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77.

Insider Activity at Asana

In related news, Director Justin Rosenstein sold 150,000 shares of the company's stock in a transaction dated 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 owns 1,097,309 shares of the company's stock, valued at approximately $21,682,825.84. This represents a 12.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dustin A. Moskovitz bought 225,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $12.91 per share, for a total transaction of $2,904,750.00. Following the completion of the purchase, the chief executive officer now directly owns 48,123,436 shares in the company, valued at approximately $621,273,558.76. This represents a 0.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 2,074,507 shares of company stock valued at $30,025,743 and sold 193,775 shares valued at $3,549,663. 61.28% of the stock is owned by corporate insiders.

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.