Brooklyn FI LLC Invests $8.14 Million in Asana, Inc. (NYSE:ASAN)

Brooklyn FI LLC bought a new position in Asana, Inc. (NYSE:ASAN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 401,494 shares of the company's stock, valued at approximately $8,138,000. Asana comprises about 1.3% of Brooklyn FI LLC's holdings, making the stock its 20th largest position. Brooklyn FI LLC owned about 0.18% of Asana at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Asana in the 4th quarter worth approximately $29,000. Bogart Wealth LLC acquired a new position in shares of Asana during the fourth quarter worth about $61,000. SBI Securities Co. Ltd. acquired a new position in Asana in the fourth quarter valued at approximately $82,000. KBC Group NV boosted its stake 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 during the period. Finally, State of Tennessee Department of Treasury purchased a new stake in Asana in the 4th quarter valued at approximately $135,000. 26.21% of the stock is currently owned by institutional investors.

Asana Price Performance

Shares of NYSE:ASAN traded up $0.39 during mid-day trading on Wednesday, reaching $18.28. The stock had a trading volume of 2,062,639 shares, compared to its average volume of 2,792,881. 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 market cap of $4.26 billion, a P/E ratio of -16.32 and a beta of 1.21. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The business's 50 day moving average price is $16.05 and its 200 day moving average price is $18.14.

Insider Buying and Selling

In other Asana news, COO Anne Raimondi sold 18,775 shares of Asana stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $14.03, for a total value of $263,413.25. Following the transaction, the chief operating officer now directly owns 716,580 shares of the company's stock, valued at approximately $10,053,617.40. The trade was a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justin Rosenstein sold 25,000 shares of the business's 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 sale, the director now owns 922,309 shares in the company, valued at $11,888,563.01. The trade was a 2.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 2,074,507 shares of company stock valued at $30,025,743. Insiders own 61.28% of the company's stock.

Analysts Set New Price Targets

ASAN has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on Asana from $23.00 to $13.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. JPMorgan Chase & Co. cut their target price on Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a research report on Tuesday, March 11th. DA Davidson reduced their price objective on shares of Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. UBS Group cut their target price 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, JMP Securities set a $22.00 price objective on Asana in a research note on Tuesday, March 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $15.53.

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.