125,637 Shares in Asana, Inc. (NYSE:ASAN) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in Asana, Inc. (NYSE:ASAN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 125,637 shares of the company’s stock, valued at approximately $2,547,000. Edgestream Partners L.P. owned 0.05% of Asana at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ASAN. Paradice Investment Management LLC acquired a new stake in Asana in the fourth quarter worth $22,507,000. JPMorgan Chase & Co. grew its holdings in Asana by 105.6% in the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after purchasing an additional 427,576 shares during the period. Holocene Advisors LP grew its holdings in Asana by 62.2% in the third quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock worth $3,537,000 after purchasing an additional 116,998 shares during the period. Neo Ivy Capital Management grew its holdings in Asana by 195.1% in the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock worth $1,964,000 after purchasing an additional 112,038 shares during the period. Finally, Savant Capital LLC acquired a new stake in Asana in the fourth quarter worth $1,779,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Asana news, 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 sale, the director now owns 1,097,309 shares of the company’s stock, valued at approximately $21,682,825.84. The trade was a 12.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.71, for a total transaction of $591,228.43. Following the completion of the sale, the chief operating officer now directly owns 733,855 shares in the company, valued at approximately $15,931,992.05. This represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 723,300 shares of company stock valued at $15,161,068. Company insiders own 63.97% of the company’s stock.

Asana Stock Up 3.0 %

Asana stock opened at $18.32 on Monday. The stock has a market cap of $4.19 billion, a PE ratio of -16.36 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The firm’s 50-day simple moving average is $20.63 and its 200 day simple moving average is $16.85.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. KeyCorp upgraded shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target for the company in a report on Friday, December 6th. Piper Sandler reiterated an “overweight” rating and set a $27.00 price objective on shares of Asana in a report on Thursday, February 6th. JPMorgan Chase & Co. lifted their price objective on shares of Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Oppenheimer lifted their price objective on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, JMP Securities lifted their price objective on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Asana has a consensus rating of “Hold” and an average price target of $17.73.

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.