Russell Investments Group Ltd. Raises Stock Position in Asana, Inc. (NYSE:ASAN)

Russell Investments Group Ltd. grew its stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 1,259.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,837 shares of the company's stock after buying an additional 44,318 shares during the period. Russell Investments Group Ltd.'s holdings in Asana were worth $970,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Bogart Wealth LLC acquired a new position in Asana in the fourth quarter valued at about $61,000. SBI Securities Co. Ltd. bought a new position in shares of Asana during the 4th quarter worth approximately $82,000. KBC Group NV raised its position in shares of Asana by 58.8% in the fourth quarter. KBC Group NV now owns 5,612 shares of the company's stock valued at $114,000 after purchasing an additional 2,078 shares during the period. TruNorth Capital Management LLC acquired a new stake in Asana during the fourth quarter worth approximately $163,000. Finally, Empirical Asset Management LLC bought a new stake in Asana in the 4th quarter valued at $218,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ASAN shares. Citigroup upped their target price on Asana from $16.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, January 16th. Robert W. Baird cut their price objective on Asana from $23.00 to $13.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Morgan Stanley reduced their target price on shares of Asana from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Bank of America reduced their price target 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, Jefferies Financial Group decreased their target price 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. 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's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $15.53.

Insiders Place Their Bets

In related news, CEO Dustin A. Moskovitz acquired 50,000 shares of the firm's stock in a transaction on Tuesday, April 15th. The shares were acquired at an average cost of $15.84 per share, for a total transaction of $792,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,398,436 shares in the company, valued at approximately $814,151,226.24. This trade represents a 0.10 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justin Rosenstein sold 196,067 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $21.78, for a total transaction of $4,270,339.26. Following the transaction, the director now owns 1,651,242 shares in the company, valued at $35,964,050.76. The trade was a 10.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 2,074,507 shares of company stock worth $30,025,743 and have sold 589,842 shares worth $12,154,003. 63.97% of the stock is owned by company insiders.

Asana Stock Performance

ASAN traded up $0.02 during trading on Friday, hitting $16.00. The company's stock had a trading volume of 2,323,226 shares, compared to its average volume of 2,747,138. The firm has a market cap of $3.73 billion, a PE ratio of -14.29 and a beta of 1.23. 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 business's 50 day simple moving average is $16.02 and its 200-day simple moving average is $17.37. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77.

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.