Jump Financial LLC Takes Position in Asana, Inc. (NYSE:ASAN)

Jump Financial LLC purchased a new position in Asana, Inc. (NYSE:ASAN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 331,200 shares of the company's stock, valued at approximately $6,713,000. Jump Financial LLC owned about 0.14% of Asana at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC bought a new position in Asana during the fourth quarter worth $61,000. SBI Securities Co. Ltd. acquired a new position in shares of Asana in the 4th quarter valued at about $82,000. KBC Group NV boosted its holdings in shares of 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 period. TruNorth Capital Management LLC bought a new stake in shares of Asana during the 4th quarter valued at about $163,000. Finally, Empirical Asset Management LLC acquired a new stake in Asana during the fourth quarter worth about $218,000. 26.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Asana

In other news, COO Anne Raimondi sold 18,775 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total transaction of $263,413.25. Following the completion of the sale, the chief operating officer now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Justin Rosenstein sold 200,000 shares of Asana stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $21.67, for a total value of $4,334,000.00. Following the completion of the transaction, the director now directly owns 1,847,309 shares in the company, valued at $40,031,186.03. This represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 2,074,507 shares of company stock valued at $30,025,743 and sold 739,842 shares valued at $15,155,503. 63.97% of the stock is owned by corporate insiders.

Asana Price Performance

Shares of ASAN stock traded down $0.69 during mid-day trading on Monday, hitting $14.15. 453,588 shares of the stock traded hands, compared to its average volume of 2,739,577. The company's 50-day simple moving average is $16.85 and its 200-day simple moving average is $17.33. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -12.63 and a beta of 1.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49.

Wall Street Analyst Weigh In

Several research firms have recently commented on ASAN. JPMorgan Chase & Co. lowered 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. Scotiabank lowered their price objective on Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a research note on Tuesday, March 11th. Robert W. Baird cut their target price on Asana from $23.00 to $13.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Morgan Stanley lowered their price target on shares of Asana from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, JMP Securities set a $22.00 target price on shares of Asana in a research note on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $15.60.

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.