BNP Paribas Financial Markets Invests $653,000 in Asana, Inc. (NYSE:ASAN)

BNP Paribas Financial Markets acquired a new position in shares of Asana, Inc. (NYSE:ASAN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing 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 also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Asana during the fourth quarter worth about $29,000. KBC Group NV increased its holdings in Asana by 58.8% during the 4th quarter. KBC Group NV now owns 5,612 shares of the company's stock worth $114,000 after purchasing an additional 2,078 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Asana by 5.7% during the 4th quarter. MetLife Investment Management LLC now owns 49,483 shares of the company's stock worth $1,003,000 after purchasing an additional 2,668 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Asana by 19.0% in the fourth quarter. Handelsbanken Fonder AB now owns 18,200 shares of the company's stock valued at $369,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Bogart Wealth LLC bought a new position in shares of Asana in the fourth quarter valued at approximately $61,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ASAN has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a report on Tuesday, March 11th. Scotiabank lowered their target price on shares of Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a report 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. JMP Securities set a $22.00 price target on shares of Asana in a report on Tuesday, March 11th. Finally, UBS Group reduced their price objective 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. Three research analysts have rated the stock with a sell rating, eight have issued 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 target price of $15.53.

Insiders Place Their Bets

In related news, COO Anne Raimondi sold 18,775 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $14.03, for a total transaction of $263,413.25. Following the sale, the chief operating officer now directly owns 716,580 shares in the company, valued at approximately $10,053,617.40. This represents a 2.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dustin A. Moskovitz acquired 50,000 shares of Asana stock in a transaction that occurred on Tuesday, April 15th. The stock was acquired at an average price of $15.84 per share, with a total value of $792,000.00. Following the completion of the purchase, the chief executive officer now directly owns 51,398,436 shares in the company, valued at $814,151,226.24. This represents a 0.10% increase in their position. The disclosure for this purchase can be found here. Insiders bought 2,074,507 shares of company stock valued at $30,025,743 over the last ninety days. 61.28% of the stock is currently owned by insiders.

Asana Stock Performance

Asana stock traded up $0.40 during trading on Tuesday, hitting $17.87. The stock had a trading volume of 2,007,621 shares, compared to its average volume of 2,792,502. The stock's 50 day moving average is $15.90 and its two-hundred day moving average is $18.14. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of -15.96 and a beta of 1.21. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17.

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.