KBC Group NV Buys 2,078 Shares of Asana, Inc. (NYSE:ASAN)

KBC Group NV grew its position in shares of Asana, Inc. (NYSE:ASAN) by 58.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,612 shares of the company’s stock after acquiring an additional 2,078 shares during the quarter. KBC Group NV’s holdings in Asana were worth $114,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Asana by 105.6% in the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after acquiring an additional 427,576 shares during the last quarter. Holocene Advisors LP lifted its position in shares of Asana by 62.2% in the third quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock valued at $3,537,000 after buying an additional 116,998 shares during the last quarter. Neo Ivy Capital Management lifted its stake in shares of Asana by 195.1% during 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 last quarter. Barclays PLC boosted its holdings in shares of Asana by 103.0% during the third quarter. Barclays PLC now owns 165,753 shares of the company’s stock worth $1,920,000 after acquiring an additional 84,114 shares during the period. Finally, Olympiad Research LP acquired a new position in Asana in the 3rd quarter valued at $792,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on ASAN shares. Piper Sandler reiterated an “overweight” rating and issued a $27.00 price objective on shares of Asana in a research note on Thursday. Scotiabank increased their price target on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, December 6th. Royal Bank of Canada restated an “underperform” rating and set a $10.00 price objective on shares of Asana in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on shares of Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Finally, DA Davidson upped their price target on shares of Asana from $13.00 to $20.00 and gave the stock a “neutral” 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.73.

Insider Activity

In other news, Director Justin Rosenstein sold 196,067 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $21.78, for a total value of $4,270,339.26. Following the sale, the director now directly owns 1,651,242 shares of the company’s stock, valued at approximately $35,964,050.76. This represents a 10.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Anne Raimondi sold 27,233 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.71, for a total value of $591,228.43. Following the sale, the chief operating officer now owns 733,855 shares of the company’s stock, 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. Over the last three months, insiders have sold 573,300 shares of company stock valued at $12,197,068. 63.97% of the stock is currently owned by corporate insiders.

Asana Trading Up 0.0 %

NYSE ASAN opened at $21.76 on Friday. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The business’s fifty day moving average is $20.87 and its 200 day moving average is $15.74. 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 $4.98 billion, a price-to-earnings ratio of -19.43 and a beta of 1.11.

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.