Paradice Investment Management LLC Makes New Investment in Asana, Inc. (NYSE:ASAN)

Paradice Investment Management LLC acquired a new position in Asana, Inc. (NYSE:ASAN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,110,357 shares of the company’s stock, valued at approximately $22,507,000. Asana makes up 4.5% of Paradice Investment Management LLC’s investment portfolio, making the stock its 12th biggest position. Paradice Investment Management LLC owned about 0.49% of Asana at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in 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 purchasing an additional 427,576 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Asana in the 3rd quarter worth about $538,000. Neo Ivy Capital Management grew its position in shares of Asana by 195.1% in the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock worth $1,964,000 after buying an additional 112,038 shares during the period. Friedenthal Financial purchased a new stake in shares of Asana in the 4th quarter worth about $762,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Asana in the 3rd quarter worth about $456,000. 26.21% of the stock is currently owned by institutional investors.

Insider Transactions at Asana

In other news, Director Justin Rosenstein sold 150,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total value of $3,001,500.00. Following the transaction, the director now owns 2,047,309 shares in the company, valued at $40,966,653.09. This represents a 6.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Anne Raimondi sold 27,233 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 733,855 shares in the company, valued at $15,931,992.05. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 573,300 shares of company stock worth $12,197,068 in the last quarter. Company insiders own 63.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ASAN. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Asana in a research report on Friday, December 6th. Scotiabank upped their target price on shares of Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their target price on shares of Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Morgan Stanley increased their price objective on shares of Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Finally, Piper Sandler reissued an “overweight” rating and set a $27.00 price objective on shares of Asana in a research report on Thursday, February 6th. Two research 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. According to data from MarketBeat.com, Asana currently has an average rating of “Hold” and a consensus target price of $17.73.

Asana Stock Performance

Shares of NYSE ASAN opened at $23.27 on Tuesday. The firm’s 50-day moving average price is $21.61 and its 200-day moving average price is $16.16. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a market cap of $5.32 billion, a PE ratio of -20.78 and a beta of 1.11. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77.

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.