Centiva Capital LP Boosts Holdings in Asana, Inc. (NYSE:ASAN)

Centiva Capital LP lifted its holdings in Asana, Inc. (NYSE:ASAN - Free Report) by 66.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,612 shares of the company's stock after buying an additional 42,623 shares during the quarter. Centiva Capital LP's holdings in Asana were worth $2,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Asana during the 4th quarter worth $29,000. Bogart Wealth LLC acquired a new stake in shares of Asana in the fourth quarter valued at about $61,000. SBI Securities Co. Ltd. purchased a new stake in Asana during the fourth quarter worth about $82,000. KBC Group NV grew its position 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 buying an additional 2,078 shares during the period. Finally, State of Tennessee Department of Treasury purchased a new position in Asana in the fourth quarter valued at about $135,000. Institutional investors and hedge funds own 26.21% of the company's stock.

Insider Transactions at Asana

In related news, CEO Dustin A. Moskovitz bought 225,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $12.91 per share, with a total value of $2,904,750.00. Following the completion of the transaction, the chief executive officer now owns 48,123,436 shares of the company's stock, valued at approximately $621,273,558.76. The trade was a 0.47 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Anne Raimondi sold 18,775 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total transaction of $263,413.25. Following the transaction, the chief operating officer now directly owns 716,580 shares of the company's stock, valued at $10,053,617.40. This trade represents a 2.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 2,074,507 shares of company stock worth $30,025,743 and have sold 193,775 shares worth $3,549,663. Insiders own 63.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ASAN shares. JMP Securities set a $22.00 price target on Asana in a report on Tuesday, March 11th. Jefferies Financial Group decreased 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. UBS Group dropped their price target on Asana from $18.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Piper Sandler cut their price target on Asana from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a research note on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $15.53.

Asana Trading Down 0.2 %

ASAN stock traded down $0.04 during midday trading on Friday, hitting $17.21. The stock had a trading volume of 1,766,095 shares, compared to its average volume of 2,737,190. The company's 50-day moving average price is $15.32 and its 200 day moving average price is $17.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market cap of $4.01 billion, a PE ratio of -15.37 and a beta of 1.21. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $27.77.

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.