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

BNP Paribas Financial Markets acquired a new position in shares of Asana, Inc. (NYSE:ASAN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 business. Voya Investment Management LLC grew its holdings in Asana by 8.1% in the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after buying an additional 937,726 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Asana in the fourth quarter valued at approximately $38,966,000. First Trust Advisors LP grew its stake in shares of Asana by 17.6% in the fourth quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock worth $35,350,000 after acquiring an additional 261,298 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its position in Asana by 0.5% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,377,704 shares of the company's stock worth $27,926,000 after acquiring an additional 7,269 shares during the period. Finally, Paradice Investment Management LLC bought a new position in Asana during the fourth quarter worth $22,507,000. Institutional investors and hedge funds own 26.21% of the company's stock.

Asana Price Performance

ASAN stock traded down $0.09 during trading on Thursday, hitting $18.20. 2,170,964 shares of the stock traded hands, compared to its average volume of 2,794,928. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of -16.25 and a beta of 1.21. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a 50 day simple moving average of $16.12 and a 200 day simple moving average of $18.17.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Morgan Stanley downgraded shares of Asana from an "equal weight" rating to an "underweight" rating and set a $14.00 price target for the company. in a report on Tuesday, May 20th. Scotiabank reduced their target price 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. Jefferies Financial Group lowered their price target on Asana from $19.00 to $15.00 and set a "hold" rating on the stock in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lowered their price objective on Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a research report on Tuesday, March 11th. Finally, Robert W. Baird reduced their target price on Asana from $23.00 to $13.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Asana presently has a consensus rating of "Hold" and an average price target of $15.53.

Insider Transactions at Asana

In related news, Director Justin Rosenstein sold 25,000 shares of Asana stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the completion of the transaction, the director now directly owns 922,309 shares of the company's stock, valued at $11,888,563.01. The trade was a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $12.91 per share, for a total transaction of $2,904,750.00. Following the acquisition, the chief executive officer now owns 48,123,436 shares in the company, valued at approximately $621,273,558.76. The trade was a 0.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 2,074,507 shares of company stock valued at $30,025,743 in the last three months. 61.28% of the stock is owned by corporate 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.