Susquehanna Fundamental Investments LLC Takes $5.91 Million Position in Asana, Inc. (NYSE:ASAN)

Susquehanna Fundamental Investments LLC bought a new stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 291,762 shares of the company's stock, valued at approximately $5,914,000. Susquehanna Fundamental Investments LLC owned 0.13% of Asana as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bogart Wealth LLC acquired a new position in shares of Asana during the fourth quarter valued at about $61,000. SBI Securities Co. Ltd. acquired a new position in Asana during the 4th quarter worth approximately $82,000. KBC Group NV boosted its holdings in Asana by 58.8% in the fourth quarter. KBC Group NV now owns 5,612 shares of the company's stock worth $114,000 after acquiring an additional 2,078 shares in the last quarter. State of Tennessee Department of Treasury acquired a new stake in Asana in the fourth quarter valued at approximately $135,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Asana during the fourth quarter valued at approximately $163,000. 26.21% of the stock is owned by institutional investors.

Asana Stock Performance

Shares of NYSE ASAN traded up $0.21 during mid-day trading on Friday, reaching $16.26. 1,511,504 shares of the company's stock were exchanged, compared to its average volume of 2,744,097. The firm has a 50-day moving average price of $15.55 and a two-hundred day moving average price of $17.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of -14.52 and a beta of 1.23. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77.

Insider Activity at Asana

In related news, CEO Dustin A. Moskovitz acquired 225,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $12.91 per share, with a total value of $2,904,750.00. Following the acquisition, the chief executive officer now owns 48,123,436 shares of the company's stock, valued at approximately $621,273,558.76. This trade represents a 0.47 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Justin Rosenstein sold 150,000 shares of Asana stock in a transaction dated 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 transaction, the director now directly owns 1,097,309 shares of the company's stock, valued at $21,682,825.84. The trade was a 12.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 2,074,507 shares of company stock worth $30,025,743 and have sold 389,842 shares worth $7,820,003. 63.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

ASAN has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut 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. Bank of America reduced their price objective on shares of Asana from $30.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, March 11th. Robert W. Baird decreased their target price on shares of Asana from $23.00 to $13.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Piper Sandler dropped their price target on shares of Asana from $18.00 to $17.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, JMP Securities set a $22.00 price objective on Asana in a report 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's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus 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.