Deutsche Bank AG Purchases 43,053 Shares of Asana, Inc. (NYSE:ASAN)

Deutsche Bank AG raised its holdings in Asana, Inc. (NYSE:ASAN - Free Report) by 30.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,843 shares of the company's stock after purchasing an additional 43,053 shares during the period. Deutsche Bank AG owned 0.08% of Asana worth $3,747,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Voya Investment Management LLC boosted its position in shares of Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after acquiring an additional 937,726 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Asana in the fourth quarter valued at approximately $38,966,000. First Trust Advisors LP boosted its position 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 valued at $35,350,000 after acquiring an additional 261,298 shares during the period. Gilder Gagnon Howe & Co. LLC lifted 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 valued at $27,926,000 after purchasing an additional 7,269 shares during the last quarter. Finally, Paradice Investment Management LLC bought a new stake in shares of Asana in the 4th quarter worth approximately $22,507,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ASAN shares. Jefferies Financial Group decreased their target price on shares of Asana from $19.00 to $15.00 and set a "hold" rating on the stock in a research note on Tuesday, March 11th. Piper Sandler decreased their target price on shares of Asana from $18.00 to $17.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird decreased their target price on shares of Asana from $23.00 to $13.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. UBS Group decreased their target price 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. Finally, Bank of America decreased their target price on shares of Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $15.53.

Insider Activity

In other news, Director Justin Rosenstein sold 150,000 shares of the business'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 sale, the director now owns 1,097,309 shares in the company, valued at approximately $21,682,825.84. The trade was a 12.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Dustin A. Moskovitz bought 50,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were acquired at an average price of $15.84 per share, for a total transaction of $792,000.00. Following the acquisition, the chief executive officer now owns 51,398,436 shares in the company, valued at approximately $814,151,226.24. This represents a 0.10% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,074,507 shares of company stock worth $30,025,743 and have sold 193,775 shares worth $3,549,663. Company insiders own 61.28% of the company's stock.

Asana Stock Down 1.3%

Shares of ASAN stock traded down $0.23 during mid-day trading on Friday, reaching $17.47. 1,411,821 shares of the company's stock traded hands, compared to its average volume of 2,790,004. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The company has a market cap of $4.07 billion, a P/E ratio of -15.60 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. The company's 50-day moving average price is $15.77 and its 200-day moving average price is $18.03.

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.