Centiva Capital LP Raises Stake in Asana, Inc. (NYSE:ASAN)

Centiva Capital LP lifted its stake in shares of Asana, Inc. (NYSE:ASAN) by 66.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 106,612 shares of the company’s stock after acquiring an additional 42,623 shares during the period. Centiva Capital LP’s holdings in Asana were worth $2,161,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Asana by 105.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after acquiring an additional 427,576 shares during the last quarter. Virtu Financial LLC acquired a new position in Asana during the fourth quarter worth $2,349,000. Meeder Asset Management Inc. boosted its position in shares of Asana by 49.2% during the fourth quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company’s stock worth $1,572,000 after buying an additional 25,564 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Asana by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company’s stock valued at $14,083,000 after buying an additional 48,831 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Asana in the fourth quarter valued at $762,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Trading Up 2.2 %

NYSE ASAN opened at $16.41 on Wednesday. The firm’s fifty day moving average price is $15.43 and its 200 day moving average price is $17.61. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. 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 company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -14.65 and a beta of 1.21.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JMP Securities set a $22.00 target price on Asana in a report on Tuesday, March 11th. DA Davidson dropped their price objective on shares of Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Bank of America reduced their target price on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a 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 for the company in a research note on Wednesday, April 23rd. Finally, Morgan Stanley reduced their price objective on Asana from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.53.

Insider Buying and Selling at Asana

In other Asana news, CEO Dustin A. Moskovitz acquired 225,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $12.91 per share, for a total transaction of $2,904,750.00. Following the completion of the purchase, the chief executive officer now owns 48,123,436 shares in the company, valued at $621,273,558.76. This trade represents a 0.47 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $19.76, for a total transaction of $2,964,000.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 2,074,507 shares of company stock worth $30,025,743 and sold 193,775 shares worth $3,549,663. 63.97% of the stock is currently owned by insiders.

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.