Asana, Inc. (NYSE:ASAN) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in shares of Asana, Inc. (NYSE:ASAN) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 805,649 shares of the company’s stock after purchasing an additional 11,896 shares during the period. Bank of New York Mellon Corp owned approximately 0.35% of Asana worth $16,331,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. GSA Capital Partners LLP purchased a new position in shares of Asana during the third quarter worth about $497,000. MQS Management LLC acquired a new stake in shares of Asana during the 3rd quarter valued at approximately $141,000. KBC Group NV increased its stake in shares of Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after purchasing an additional 1,211 shares in the last quarter. Quest Partners LLC purchased a new stake in Asana in the 3rd quarter worth approximately $43,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Asana in the 3rd quarter valued at $603,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ASAN. Jefferies Financial Group decreased their price objective on shares of Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday. Piper Sandler dropped their price target on shares of Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday. Scotiabank reduced their target price on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a report on Tuesday. JMP Securities raised their price objective on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. Finally, Oppenheimer raised their price target on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Asana presently has an average rating of “Hold” and an average price target of $16.07.

Insider Transactions at Asana

In other news, Director Justin Rosenstein sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $19.76, for a total value of $2,964,000.00. Following the sale, the director now directly owns 1,097,309 shares in the company, valued at approximately $21,682,825.84. This trade represents a 12.03 % 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 firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 733,855 shares in the company, valued at approximately $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. Insiders have sold a total of 723,300 shares of company stock valued at $15,161,068 over the last 90 days. 63.97% of the stock is owned by corporate insiders.

Asana Stock Down 24.3 %

Shares of NYSE ASAN opened at $12.64 on Wednesday. The stock has a market cap of $2.89 billion, a P/E ratio of -11.28 and a beta of 1.13. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77. 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 firm has a 50 day moving average price of $20.40 and a 200 day moving average price of $16.86.

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.