BNP Paribas Financial Markets Buys Shares of 32,231 Asana, Inc. (NYSE:ASAN)

BNP Paribas Financial Markets acquired a new stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 32,231 shares of the company's stock, valued at approximately $653,000.

Several other large investors have also made changes to their positions in the company. Quarry LP purchased a new stake in shares of Asana during the 4th quarter worth about $29,000. Bogart Wealth LLC acquired a new position in shares of Asana during the 4th quarter valued at $61,000. SBI Securities Co. Ltd. acquired a new stake in Asana in the 4th quarter valued at $82,000. KBC Group NV raised its position in Asana by 58.8% in the fourth quarter. KBC Group NV now owns 5,612 shares of the company's stock valued at $114,000 after purchasing an additional 2,078 shares during the period. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Asana during the fourth quarter worth about $135,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Asana Stock Down 0.3%

Shares of ASAN traded down $0.06 during trading hours on Thursday, hitting $18.23. 490,279 shares of the company were exchanged, compared to its average volume of 2,783,981. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a market cap of $4.25 billion, a PE ratio of -16.22 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. The firm's 50 day moving average is $16.05 and its 200-day moving average is $18.14.

Analyst Ratings Changes

ASAN has been the topic of a number of analyst reports. JMP Securities set a $22.00 target price on Asana in a research report on Tuesday, March 11th. Piper Sandler decreased their price objective on shares of Asana from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Morgan Stanley downgraded Asana from an "equal weight" rating to an "underweight" rating and set a $14.00 target price on the stock. in a report on Tuesday, May 20th. Robert W. Baird reduced 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, UBS Group dropped their price objective 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. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $15.53.

Insider Buying and Selling at Asana

In other news, CEO Dustin A. Moskovitz acquired 50,000 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was purchased at an average cost of $15.84 per share, with a total value of $792,000.00. Following the acquisition, the chief executive officer now owns 51,398,436 shares of the company's stock, valued at $814,151,226.24. This trade represents a 0.10% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Justin Rosenstein sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the transaction, the director now owns 922,309 shares in the company, valued at $11,888,563.01. This represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought 2,074,507 shares of company stock worth $30,025,743 over the last ninety days. Company insiders own 61.28% of the company's stock.

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.