3,000 Shares in Asana, Inc. (NYSE:ASAN) Purchased by Bogart Wealth LLC

Bogart Wealth LLC bought a new position in Asana, Inc. (NYSE:ASAN) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,000 shares of the company’s stock, valued at approximately $61,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV raised its holdings in shares of Asana by 52.1% in the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after acquiring an additional 1,211 shares during the last quarter. Quest Partners LLC bought a new position in shares of Asana during the 3rd quarter valued at approximately $43,000. MQS Management LLC bought a new position in shares of Asana during the 3rd quarter valued at approximately $141,000. Paloma Partners Management Co bought a new position in shares of Asana during the 3rd quarter valued at approximately $143,000. Finally, Quadrature Capital Ltd bought a new position in shares of Asana during the 3rd quarter valued at approximately $189,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Stock Performance

Asana stock opened at $23.27 on Friday. The firm’s fifty day moving average price is $21.62 and its 200-day moving average price is $16.03. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market cap of $5.32 billion, a P/E ratio of -20.78 and a beta of 1.11. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77.

Insider Activity

In related 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 transaction of $591,228.43. Following the transaction, the chief operating officer now owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. This trade represents a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justin Rosenstein sold 200,000 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $21.67, for a total transaction of $4,334,000.00. Following the transaction, the director now directly owns 1,847,309 shares in the company, valued at approximately $40,031,186.03. This represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 573,300 shares of company stock worth $12,197,068. 63.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ASAN has been the topic of a number of recent research reports. Oppenheimer upped their price target on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Robert W. Baird upped their price target on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Jefferies Financial Group upped their price target on shares of Asana from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Piper Sandler restated an “overweight” rating and set a $27.00 price target on shares of Asana in a research note on Thursday, February 6th. Finally, Morgan Stanley upped their price target on shares of Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.73.

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.