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

Brooklyn FI LLC bought a new position in Asana, Inc. (NYSE:ASAN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 401,494 shares of the company’s stock, valued at approximately $8,138,000. Asana comprises about 1.3% of Brooklyn FI LLC’s investment portfolio, making the stock its 20th largest position.

Several other large investors also recently made changes to their positions in the company. Quarry LP acquired a new stake in Asana in the fourth quarter worth about $29,000. Bogart Wealth LLC bought a new stake in shares of Asana during the 4th quarter worth about $61,000. SBI Securities Co. Ltd. bought a new stake in shares of Asana during the 4th quarter worth about $82,000. KBC Group NV lifted its stake in shares of Asana by 58.8% in the 4th quarter. KBC Group NV now owns 5,612 shares of the company’s stock worth $114,000 after acquiring an additional 2,078 shares during the period. Finally, State of Tennessee Department of Treasury bought a new position in shares of Asana in the fourth quarter valued at approximately $135,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JMP Securities set a $22.00 target price on Asana in a research report on Tuesday, March 11th. Jefferies Financial Group cut their price objective on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. decreased their target price on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research note on Tuesday, March 11th. DA Davidson dropped their price target on shares of Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Finally, Piper Sandler reduced their price objective on shares of Asana from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.53.

Asana Stock Down 1.3%

NYSE:ASAN opened at $17.47 on Monday. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of -15.60 and a beta of 1.21. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The business’s fifty day moving average price is $15.83 and its 200 day moving average price is $18.12.

Insider Buying and Selling

In other news, CEO Dustin A. Moskovitz bought 225,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $12.91 per share, for a total transaction of $2,904,750.00. Following the purchase, the chief executive officer now owns 48,123,436 shares of the company’s stock, valued at $621,273,558.76. This represents a 0.47% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justin Rosenstein sold 25,000 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the transaction, the director now directly owns 922,309 shares of the company’s stock, valued at approximately $11,888,563.01. This represents a 2.64% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders purchased 2,074,507 shares of company stock worth $30,025,743. 61.28% of the stock is owned by company 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.