Asana, Inc. (NYSE:ASAN) Shares Acquired by LPL Financial LLC

LPL Financial LLC raised its position in Asana, Inc. (NYSE:ASAN - Free Report) by 81.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,752 shares of the company's stock after buying an additional 19,255 shares during the quarter. LPL Financial LLC's holdings in Asana were worth $867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ASAN. KLP Kapitalforvaltning AS purchased a new stake in Asana in the 4th quarter valued at $371,000. Sei Investments Co. purchased a new stake in shares of Asana in the fourth quarter valued at about $585,000. Virtu Financial LLC purchased a new stake in shares of Asana in the fourth quarter valued at about $2,349,000. Teacher Retirement System of Texas acquired a new stake in shares of Asana during the fourth quarter worth about $1,310,000. Finally, Brooklyn FI LLC purchased a new position in shares of Asana during the fourth quarter worth about $8,138,000. 26.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ASAN has been the subject of a number of recent research reports. UBS Group decreased their price objective on Asana from $18.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Bank of America lowered their price objective on shares of Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, March 11th. JMP Securities set a $22.00 price objective on shares of Asana in a research report on Tuesday, March 11th. Robert W. Baird reduced their target price on shares of Asana from $23.00 to $13.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Finally, Citigroup boosted their price target on shares of Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $15.53.

Insider Transactions at Asana

In other news, CEO Dustin A. Moskovitz acquired 50,000 shares of Asana stock in a transaction that occurred on Tuesday, April 15th. The shares were acquired at an average price of $15.84 per share, with a total value of $792,000.00. Following the completion of the purchase, the chief executive officer now owns 51,398,436 shares of the company's stock, valued at approximately $814,151,226.24. This represents a 0.10 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justin Rosenstein sold 200,000 shares of Asana stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $21.67, for a total transaction of $4,334,000.00. Following the completion of the sale, the director now directly owns 1,847,309 shares of the company's stock, valued at $40,031,186.03. The trade was a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 2,074,507 shares of company stock valued at $30,025,743 and sold 589,842 shares valued at $12,154,003. Insiders own 63.97% of the company's stock.

Asana Price Performance

Shares of Asana stock traded up $0.02 during trading on Friday, hitting $16.00. 2,323,226 shares of the company were exchanged, compared to its average volume of 2,747,138. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average price of $16.02 and a 200 day moving average price of $17.37. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of -14.29 and a beta of 1.23.

About Asana

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.