Asana, Inc. (NYSE:ASAN) Shares Acquired by Nuveen Asset Management LLC

Nuveen Asset Management LLC raised its stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 11.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,433 shares of the company's stock after purchasing an additional 26,165 shares during the quarter. Nuveen Asset Management LLC owned about 0.11% of Asana worth $5,036,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Voya Investment Management LLC boosted its holdings in shares of 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 acquiring an additional 937,726 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Asana during the fourth quarter worth $38,966,000. First Trust Advisors LP boosted 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 buying an additional 261,298 shares in the last quarter. Gilder Gagnon Howe & Co. LLC boosted its holdings 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 buying an additional 7,269 shares in the last quarter. Finally, Paradice Investment Management LLC purchased a new stake in Asana during the fourth quarter worth $22,507,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 stock was purchased at an average cost of $14.02 per share, for a total transaction of $3,154,500.00. Following the completion of the transaction, the chief executive officer now owns 48,573,436 shares in the company, valued at approximately $680,999,572.72. This trade represents a 0.47% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Justin Rosenstein sold 25,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the sale, the director now owns 922,309 shares of the company's stock, valued at approximately $11,888,563.01. The trade was a 2.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 2,074,507 shares of company stock worth $30,025,743. Insiders own 61.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Scotiabank lowered their price target on shares of Asana from $18.00 to $12.00 and set a "sector perform" rating on the stock in a report on Tuesday, March 11th. Robert W. Baird lowered their price target on shares of Asana from $23.00 to $13.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Jefferies Financial Group lowered their price target on shares of Asana from $19.00 to $15.00 and set a "hold" rating on the stock in a report on Tuesday, March 11th. UBS Group decreased their price objective on shares of Asana from $18.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Finally, JMP Securities set a $22.00 price objective on shares of Asana in a report on Tuesday, March 11th. Three 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 stock. According to data from MarketBeat, Asana currently has an average rating of "Hold" and an average target price of $15.53.

Asana Price Performance

Shares of NYSE:ASAN traded up $0.44 during midday trading on Monday, hitting $18.35. The company's stock had a trading volume of 2,674,753 shares, compared to its average volume of 2,765,725. 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 $4.28 billion, a P/E ratio of -16.38 and a beta of 1.21. The business's 50 day simple moving average is $16.17 and its 200 day simple moving average is $18.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49.

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.