Geode Capital Management LLC Boosts Stock Position in Asana, Inc. (NYSE:ASAN)

Geode Capital Management LLC boosted its stake in shares of Asana, Inc. (NYSE:ASAN) by 0.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,863,703 shares of the company’s stock after acquiring an additional 12,055 shares during the quarter. Geode Capital Management LLC owned 0.82% of Asana worth $21,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new stake in Asana during the 2nd quarter valued at about $17,100,000. Cubist Systematic Strategies LLC purchased a new stake in Asana during the 2nd quarter valued at about $5,169,000. Holocene Advisors LP boosted its holdings in Asana by 62.2% during the 3rd quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock valued at $3,537,000 after acquiring an additional 116,998 shares during the period. Marshall Wace LLP purchased a new stake in Asana during the 2nd quarter valued at about $3,159,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Asana during the 2nd quarter valued at approximately $3,050,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on ASAN shares. Morgan Stanley upped their price target on Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. DA Davidson upped their price target on Asana from $13.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Robert W. Baird upped their price target on Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Jefferies Financial Group upped their price target on Asana from $13.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. upped their price target on Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.53.

Insider Activity at Asana

In other Asana news, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.71, for a total value of $591,228.43. Following the completion of the sale, 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. 63.97% of the stock is owned by corporate insiders.

Asana Stock Down 5.0 %

ASAN stock opened at $21.59 on Friday. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. 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 firm has a market cap of $4.94 billion, a PE ratio of -19.28 and a beta of 1.22. The business has a 50 day moving average of $16.89 and a 200 day moving average of $14.29.

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.