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

Vident Advisory LLC acquired a new position in shares of Asana, Inc. (NYSE:ASAN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 22,684 shares of the company's stock, valued at approximately $460,000.

Several other institutional investors also recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of Asana by 103.0% during the third quarter. Barclays PLC now owns 165,753 shares of the company's stock valued at $1,920,000 after purchasing an additional 84,114 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Asana by 1,934.8% during the 4th quarter. Blue Trust Inc. now owns 21,081 shares of the company's stock worth $427,000 after purchasing an additional 20,045 shares during the last quarter. KBC Group NV raised its holdings in Asana by 58.8% in the fourth quarter. KBC Group NV now owns 5,612 shares of the company's stock worth $114,000 after purchasing an additional 2,078 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Asana during the fourth quarter valued at about $366,000. Finally, Savant Capital LLC bought a new stake in shares of Asana in the 4th quarter valued at about $1,779,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ASAN has been the subject of several recent analyst reports. JMP Securities set a $22.00 price objective on shares of Asana in a research note on Tuesday, March 11th. Scotiabank reduced their price target on Asana from $18.00 to $12.00 and set a "sector perform" rating on the stock in a research report on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price objective on Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a report on Tuesday, March 11th. Piper Sandler dropped their target price on Asana from $18.00 to $17.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, UBS Group decreased their price target on Asana from $18.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.53.

Insider Buying and Selling

In related news, COO Anne Raimondi sold 18,775 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $14.03, for a total transaction of $263,413.25. Following the sale, the chief operating officer now directly owns 716,580 shares of the company's stock, valued at $10,053,617.40. This trade represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justin Rosenstein sold 25,000 shares of Asana stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $12.89, for a total value of $322,250.00. Following the transaction, the director now owns 922,309 shares of the company's stock, valued at approximately $11,888,563.01. This represents a 2.64% 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 valued at $30,025,743 over the last 90 days. Insiders own 61.28% of the company's stock.

Asana Stock Performance

NYSE:ASAN traded down $0.29 during midday trading on Friday, hitting $17.90. The company's stock had a trading volume of 2,374,014 shares, compared to its average volume of 2,793,327. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week 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. The firm has a market cap of $4.17 billion, a P/E ratio of -15.98 and a beta of 1.21. The firm's 50 day moving average is $16.12 and its 200-day moving average is $18.17.

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.