First Trust Advisors LP Increases Holdings in Asana, Inc. (NYSE:ASAN)

First Trust Advisors LP boosted its holdings in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 17.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,743,981 shares of the company's stock after purchasing an additional 261,298 shares during the quarter. First Trust Advisors LP owned approximately 0.76% of Asana worth $35,350,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership purchased a new position in Asana in the 4th quarter worth approximately $38,966,000. Paradice Investment Management LLC purchased a new position in shares of Asana during the 4th quarter worth approximately $22,507,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Asana in the 4th quarter valued at approximately $11,781,000. Trexquant Investment LP acquired a new stake in shares of Asana in the fourth quarter valued at $11,391,000. Finally, Renaissance Technologies LLC lifted its stake in Asana by 377.5% during the 4th quarter. Renaissance Technologies LLC now owns 617,348 shares of the company's stock worth $12,514,000 after acquiring an additional 488,048 shares in the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Stock Performance

Shares of NYSE:ASAN traded up $0.08 on Wednesday, reaching $16.16. The company's stock had a trading volume of 2,060,254 shares, compared to its average volume of 2,747,020. The stock has a market capitalization of $3.77 billion, a P/E ratio of -14.43 and a beta of 1.23. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77. The stock's 50-day moving average is $15.68 and its two-hundred day moving average is $17.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Insider Buying and Selling at Asana

In other Asana news, Director Justin Rosenstein sold 196,067 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $21.78, for a total value of $4,270,339.26. Following the completion of the transaction, the director now owns 1,651,242 shares in the company, valued at approximately $35,964,050.76. This represents a 10.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dustin A. Moskovitz bought 225,000 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $12.91 per share, for a total transaction of $2,904,750.00. Following the completion of the transaction, the chief executive officer now directly owns 48,123,436 shares in the company, valued at approximately $621,273,558.76. This represents a 0.47 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 2,074,507 shares of company stock valued at $30,025,743 and have sold 389,842 shares valued at $7,820,003. 63.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ASAN has been the topic of a number of recent research reports. UBS Group cut their price target 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. Scotiabank cut their target price on shares of Asana from $18.00 to $12.00 and set a "sector perform" rating on the stock in a research note on Tuesday, March 11th. JMP Securities set a $22.00 price target on shares of Asana in a research report on Tuesday, March 11th. Bank of America cut their price objective on Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. decreased their target price on Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $15.53.

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.