Asana, Inc. (NYSE:ASAN) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its holdings in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 175.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 290,676 shares of the company's stock after purchasing an additional 185,050 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.13% of Asana worth $5,893,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC bought a new stake in shares of Asana during the 4th quarter worth approximately $61,000. SBI Securities Co. Ltd. bought a new position in shares of Asana in the fourth quarter worth about $82,000. KBC Group NV grew its holdings in shares of 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 during the last quarter. State of Tennessee Department of Treasury purchased a new stake in Asana in the 4th quarter valued at about $135,000. Finally, TruNorth Capital Management LLC bought a new position in Asana in the 4th quarter worth about $163,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Insider Activity

In related news, Director Justin Rosenstein sold 150,000 shares of the stock in a transaction on Monday, February 24th. The stock was 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of the business's stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $12.91 per share, with a total value 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 represents a 0.47 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 2,074,507 shares of company stock valued at $30,025,743 and sold 193,775 shares valued at $3,549,663. Insiders own 63.97% of the company's stock.

Asana Trading Down 0.9 %

Shares of Asana stock traded down $0.15 on Friday, reaching $17.10. The company had a trading volume of 636,953 shares, compared to its average volume of 2,728,960. The firm has a market cap of $3.99 billion, a PE ratio of -15.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77. The firm's 50 day moving average price is $15.35 and its two-hundred day moving average price is $17.64.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. JMP Securities set a $22.00 target price on shares of Asana in a research report on Tuesday, March 11th. Jefferies Financial Group dropped their target price on Asana from $19.00 to $15.00 and set a "hold" rating on the stock in a research report on Tuesday, March 11th. Piper Sandler decreased their price objective on Asana from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Robert W. Baird reduced their target price on shares of Asana from $23.00 to $13.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Finally, DA Davidson cut their price objective on shares of Asana from $20.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $15.53.

Asana 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.