Neo Ivy Capital Management Sells 81,263 Shares of Asana, Inc. (NYSE:ASAN)

Neo Ivy Capital Management decreased its position in Asana, Inc. (NYSE:ASAN - Free Report) by 48.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 88,191 shares of the company's stock after selling 81,263 shares during the period. Neo Ivy Capital Management's holdings in Asana were worth $1,787,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Voya Investment Management LLC grew its holdings in Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock worth $254,166,000 after acquiring an additional 937,726 shares during the period. Voloridge Investment Management LLC grew its holdings in Asana by 25.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock worth $43,574,000 after acquiring an additional 438,057 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Asana during the fourth quarter worth about $38,966,000. First Trust Advisors LP grew its holdings in Asana by 17.6% during 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 period. Finally, Two Sigma Investments LP grew its holdings in Asana by 288.1% during the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock worth $28,481,000 after acquiring an additional 1,043,047 shares during the period. Institutional investors and hedge funds own 26.21% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ASAN shares. Bank of America decreased their price target on Asana from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. DA Davidson reduced their price target on Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. reduced 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 reduced their price target on Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a report on Tuesday, March 11th. Finally, Robert W. Baird reduced their price target on Asana from $23.00 to $13.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Three equities research 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 MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $15.53.

Insider Activity at Asana

In other news, CEO Dustin A. Moskovitz acquired 225,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average price of $14.02 per share, with a total value of $3,154,500.00. Following the acquisition, the chief executive officer now directly owns 48,573,436 shares in the company, valued at $680,999,572.72. The trade was a 0.47% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Anne Raimondi sold 18,775 shares of Asana stock in a transaction dated Thursday, March 20th. The stock was 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 in the company, valued at $10,053,617.40. The trade was a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 2,074,507 shares of company stock valued at $30,025,743 in the last 90 days. 61.28% of the stock is owned by corporate insiders.

Asana Price Performance

Asana stock traded up $0.40 during mid-day trading on Tuesday, reaching $17.87. 2,007,621 shares of the company were exchanged, compared to its average volume of 2,792,506. The company has a fifty day simple moving average of $15.90 and a 200-day simple moving average of $18.14. The firm has a market cap of $4.17 billion, a PE ratio of -15.96 and a beta of 1.21. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Asana 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.