Asana, Inc. (NYSE:ASAN) Stake Raised by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its holdings in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 175.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 290,676 shares of the company's stock after buying an additional 185,050 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.13% of Asana worth $5,893,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ASAN. Bogart Wealth LLC bought a new position in shares of Asana in the fourth quarter worth $61,000. SBI Securities Co. Ltd. acquired a new stake in Asana in the fourth quarter worth about $82,000. KBC Group NV grew its position in Asana by 58.8% in the 4th quarter. KBC Group NV now owns 5,612 shares of the company's stock valued at $114,000 after buying an additional 2,078 shares in the last quarter. State of Tennessee Department of Treasury acquired a new position in Asana during the 4th quarter valued at about $135,000. Finally, TruNorth Capital Management LLC acquired a new position in Asana during the 4th quarter valued at about $163,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ASAN. Jefferies Financial Group decreased their price objective on shares of Asana from $19.00 to $15.00 and set a "hold" rating for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. lowered their price target on Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a research report on Tuesday, March 11th. Scotiabank decreased their target price on Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a research note on Tuesday, March 11th. Robert W. Baird dropped their price target on shares of Asana from $23.00 to $13.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Finally, Citigroup raised their price objective on shares of Asana from $16.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Asana presently has an average rating of "Hold" and an average price target of $15.53.

Asana Trading Up 1.3 %

Shares of NYSE ASAN opened at $16.26 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The business has a 50-day moving average price of $15.55 and a two-hundred day moving average price of $17.55. The firm has a market capitalization of $3.79 billion, a PE ratio of -14.52 and a beta of 1.23.

Insider Transactions at Asana

In other Asana news, Director Justin Rosenstein sold 150,000 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $19.76, for a total value of $2,964,000.00. Following the completion of the sale, the director now owns 1,097,309 shares in the company, valued at $21,682,825.84. This represents a 12.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dustin A. Moskovitz bought 225,000 shares of the firm's stock in a transaction on Monday, March 17th. The shares were bought at an average cost of $14.02 per share, with a total value of $3,154,500.00. Following the purchase, the chief executive officer now directly owns 48,573,436 shares in the company, valued at approximately $680,999,572.72. This trade represents a 0.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, 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 owned by insiders.

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.

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