Centiva Capital LP Increases Position in Asana, Inc. (NYSE:ASAN)

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

Several other institutional investors and hedge funds have also recently modified their holdings of ASAN. JPMorgan Chase & Co. boosted its holdings in shares of Asana by 105.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company's stock worth $9,650,000 after purchasing an additional 427,576 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Asana during the fourth quarter worth approximately $2,349,000. Meeder Asset Management Inc. lifted its holdings in shares of Asana by 49.2% in the 4th quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company's stock worth $1,572,000 after acquiring an additional 25,564 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Asana by 7.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company's stock valued at $14,083,000 after purchasing an additional 48,831 shares in the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of Asana in the 4th quarter valued at $762,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Analysts Set New Price Targets

ASAN has been the topic of several analyst reports. Robert W. Baird decreased their price objective on Asana from $23.00 to $13.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Morgan Stanley lowered their price objective on Asana from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. JMP Securities set a $22.00 target price on shares of Asana in a report on Tuesday, March 11th. UBS Group dropped their price target on shares of Asana from $18.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, Scotiabank lowered their price objective on shares of Asana from $18.00 to $12.00 and set a "sector perform" rating for the company 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. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $15.53.

Asana Stock Up 3.2%

Shares of ASAN stock traded up $0.56 during mid-day trading on Monday, hitting $17.87. The company's stock had a trading volume of 813,418 shares, compared to its average volume of 2,735,334. 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 stock has a market cap of $4.16 billion, a price-to-earnings ratio of -15.92 and a beta of 1.21. The business has a 50-day moving average price of $15.32 and a 200 day moving average price of $17.75.

Insider Buying and Selling

In other news, CEO Dustin A. Moskovitz acquired 225,000 shares of the business's stock in a transaction dated Monday, March 17th. The stock was purchased at an average price of $14.02 per share, for a total transaction of $3,154,500.00. Following the completion of the transaction, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justin Rosenstein sold 150,000 shares of the firm's stock in a transaction on 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 transaction, the director now directly owns 1,097,309 shares of the company's stock, valued at approximately $21,682,825.84. This trade represents a 12.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 2,074,507 shares of company stock valued at $30,025,743 and have sold 193,775 shares valued at $3,549,663. 63.97% of the stock is currently owned by 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.