Vident Advisory LLC Buys Shares of 22,684 Asana, Inc. (NYSE:ASAN)

Vident Advisory LLC acquired a new stake in Asana, Inc. (NYSE:ASAN - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 22,684 shares of the company's stock, valued at approximately $460,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ASAN. Arrowstreet Capital Limited Partnership acquired a new position in Asana in the 4th quarter valued at $38,966,000. Paradice Investment Management LLC acquired a new position in Asana in the 4th quarter valued at $22,507,000. Two Sigma Investments LP grew its holdings in Asana by 288.1% in the 4th quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock valued at $28,481,000 after buying an additional 1,043,047 shares in the last quarter. Voya Investment Management LLC grew its holdings in 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 buying an additional 937,726 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Asana in the 4th quarter valued at $11,781,000. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Price Performance

Shares of ASAN stock traded down $0.29 on Friday, hitting $17.90. 2,374,014 shares of the company's stock were exchanged, compared to its average volume of 2,766,114. 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, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The stock has a market cap of $4.17 billion, a P/E ratio of -15.98 and a beta of 1.21. The company has a 50 day moving average of $16.17 and a 200 day moving average of $18.24.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Scotiabank decreased their price objective on Asana from $18.00 to $12.00 and set a "sector perform" rating on the stock in a 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 cut their target price on Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. UBS Group cut their target price on Asana from $18.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, Morgan Stanley downgraded Asana from an "equal weight" rating to an "underweight" rating and set a $14.00 target price for the company. in a research report on Tuesday, May 20th. Three investment 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, Asana currently has a consensus rating of "Hold" and a consensus target price of $15.53.

Insider Buying and Selling

In other Asana news, Director Justin Rosenstein sold 25,000 shares of the 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 completion of the transaction, the director now directly owns 922,309 shares in the company, valued at approximately $11,888,563.01. This trade represents a 2.64% 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 this link. Also, COO Anne Raimondi sold 18,775 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.03, for a total value of $263,413.25. Following the completion of the transaction, the chief operating officer now owns 716,580 shares of the company's stock, valued at $10,053,617.40. This represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired a total of 2,074,507 shares of company stock worth $30,025,743 in the last ninety days. 61.28% of the stock is owned by insiders.

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.