Brooklyn FI LLC Purchases Shares of 401,494 Asana, Inc. (NYSE:ASAN)

Brooklyn FI LLC acquired a new position in Asana, Inc. (NYSE:ASAN) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 401,494 shares of the company’s stock, valued at approximately $8,138,000. Brooklyn FI LLC owned about 0.18% of Asana as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new position in Asana during the 3rd quarter valued at $497,000. KBC Group NV boosted its stake in shares of Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after purchasing an additional 1,211 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Asana during the third quarter valued at about $43,000. Meeder Asset Management Inc. bought a new position in Asana in the third quarter worth about $603,000. Finally, Intech Investment Management LLC bought a new position in Asana in the third quarter worth about $456,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Asana Stock Down 0.5 %

Shares of ASAN stock opened at $14.00 on Wednesday. The company’s fifty day simple moving average is $19.71 and its two-hundred day simple moving average is $16.84. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The stock has a market cap of $3.20 billion, a P/E ratio of -12.50 and a beta of 1.13. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17.

Insider Activity at Asana

In other news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.71, for a total value of $591,228.43. Following the sale, the chief operating officer now owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. This represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Justin Rosenstein sold 25,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the sale, the director now owns 922,309 shares of the company’s stock, valued at $11,888,563.01. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 748,300 shares of company stock valued at $15,483,318. Insiders own 63.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ASAN. UBS Group reduced their target price on Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Scotiabank reduced their price target on Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Tuesday, March 11th. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective for the company in a report on Friday, December 6th. JMP Securities set a $22.00 target price on shares of Asana in a report on Tuesday, March 11th. Finally, DA Davidson decreased their price target on shares of Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Asana has a consensus rating of “Hold” and an average target price of $15.67.

Asana 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.