Hsbc Holdings PLC Purchases 123,345 Shares of Asana, Inc. (NYSE:ASAN)

Hsbc Holdings PLC increased its stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 941.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,447 shares of the company's stock after purchasing an additional 123,345 shares during the quarter. Hsbc Holdings PLC owned about 0.06% of Asana worth $2,797,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ASAN. KBC Group NV boosted its position in Asana by 58.8% in the 4th quarter. KBC Group NV now owns 5,612 shares of the company's stock valued at $114,000 after buying an additional 2,078 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Asana by 5.7% in the fourth quarter. MetLife Investment Management LLC now owns 49,483 shares of the company's stock valued at $1,003,000 after acquiring an additional 2,668 shares during the last quarter. Handelsbanken Fonder AB increased its position in Asana by 19.0% in the fourth quarter. Handelsbanken Fonder AB now owns 18,200 shares of the company's stock worth $369,000 after purchasing an additional 2,900 shares during the period. Bogart Wealth LLC acquired a new stake in Asana in the fourth quarter worth about $61,000. Finally, New York State Common Retirement Fund raised its holdings in Asana by 13.6% during the 4th quarter. New York State Common Retirement Fund now owns 25,300 shares of the company's stock worth $513,000 after purchasing an additional 3,038 shares during the last quarter. 26.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Asana news, Director Justin Rosenstein sold 150,000 shares of Asana stock in a transaction on Monday, February 24th. The shares were sold at an average price of $19.76, for a total value of $2,964,000.00. Following the sale, the director now directly owns 1,097,309 shares in the company, valued at approximately $21,682,825.84. The trade was a 12.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of Asana stock in a transaction dated Monday, March 17th. The shares were acquired at an average price of $14.02 per share, with a total value of $3,154,500.00. Following the completion of the purchase, the chief executive officer now owns 48,573,436 shares in the company, valued at approximately $680,999,572.72. The trade was a 0.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 2,074,507 shares of company stock worth $30,025,743 and sold 193,775 shares worth $3,549,663. 63.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ASAN shares. Jefferies Financial Group lowered their price target on shares of Asana from $19.00 to $15.00 and set a "hold" rating for the company in a research report on Tuesday, March 11th. Citigroup lifted their target price on shares of Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Robert W. Baird cut their price target on Asana from $23.00 to $13.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. DA Davidson dropped their price objective on Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. reduced their target price on Asana from $15.00 to $13.00 and set an "underweight" rating on the stock 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 given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $15.53.

Asana Stock Down 0.0 %

ASAN stock traded down $0.01 during trading hours on Tuesday, reaching $16.04. 234,713 shares of the stock were exchanged, compared to its average volume of 2,727,301. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -14.38 and a beta of 1.21. The firm's 50-day moving average is $15.48 and its 200-day moving average is $17.62. 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 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.