New York State Common Retirement Fund Increases Stock Position in Asana, Inc. (NYSE:ASAN)

New York State Common Retirement Fund raised its position in Asana, Inc. (NYSE:ASAN) by 13.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,300 shares of the company’s stock after acquiring an additional 3,038 shares during the quarter. New York State Common Retirement Fund’s holdings in Asana were worth $513,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KBC Group NV raised its position in Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after purchasing an additional 1,211 shares during the last quarter. Quest Partners LLC purchased a new position in Asana during the 3rd quarter valued at $43,000. Bogart Wealth LLC purchased a new stake in shares of Asana in the 4th quarter worth about $61,000. MQS Management LLC bought a new stake in shares of Asana during the 3rd quarter valued at about $141,000. Finally, Paloma Partners Management Co purchased a new position in shares of Asana during the third quarter valued at about $143,000. 26.21% of the stock is owned by institutional investors.

Asana Stock Performance

Shares of ASAN opened at $18.85 on Wednesday. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The business’s fifty day simple moving average is $20.86 and its two-hundred day simple moving average is $16.75. 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 company has a market cap of $4.31 billion, a price-to-earnings ratio of -16.83 and a beta of 1.11.

Wall Street Analysts Forecast Growth

ASAN has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated an “underperform” rating and set a $10.00 target price on shares of Asana in a report on Friday, December 6th. JMP Securities upped their price target on Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. Jefferies Financial Group raised their price objective on Asana from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Oppenheimer upped their target price on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $27.00 price target on shares of Asana in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.73.

Insider Buying and Selling

In other Asana news, Director Justin Rosenstein sold 200,000 shares of Asana stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $21.67, for a total value of $4,334,000.00. Following the completion of the sale, the director now owns 1,847,309 shares of the company’s stock, valued at approximately $40,031,186.03. The trade was a 9.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $591,228.43. Following the transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at $15,931,992.05. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 723,300 shares of company stock worth $15,161,068. 63.97% of the stock is owned by corporate insiders.

Asana 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.