Virtu Financial LLC Makes New Investment in Asana, Inc. (NYSE:ASAN)

Virtu Financial LLC purchased a new position in shares of Asana, Inc. (NYSE:ASAN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 115,900 shares of the company’s stock, valued at approximately $2,349,000. Virtu Financial LLC owned 0.05% of Asana as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Paradice Investment Management LLC acquired a new position in Asana during the fourth quarter worth approximately $22,507,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Asana during the 4th quarter worth $11,781,000. JPMorgan Chase & Co. raised its position in shares of 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 buying an additional 427,576 shares during the period. Brooklyn FI LLC acquired a new position in Asana in the fourth quarter valued at $8,138,000. Finally, Edgestream Partners L.P. purchased a new stake in Asana during the fourth quarter valued at about $2,547,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Robert W. Baird cut their price objective on Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price target on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Tuesday, March 11th. Morgan Stanley dropped their price objective on shares of Asana from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Royal Bank of Canada restated an “underperform” rating and issued a $10.00 target price on shares of Asana in a research note on Friday, December 6th. Finally, Jefferies Financial Group dropped their price target on shares of Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.67.

Insider Transactions at Asana

In other Asana news, CEO Dustin A. Moskovitz bought 225,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $12.91 per share, with a total value of $2,904,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 48,123,436 shares of the company’s stock, valued at approximately $621,273,558.76. The trade was a 0.47 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Justin Rosenstein sold 25,000 shares of Asana stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $12.89, for a total value of $322,250.00. Following the completion of the transaction, the director now owns 922,309 shares of the company’s stock, valued at approximately $11,888,563.01. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders bought 675,000 shares of company stock worth $9,285,750 and sold 721,067 shares worth $14,892,089. Insiders own 63.97% of the company’s stock.

Asana Stock Up 3.1 %

NYSE:ASAN opened at $14.44 on Friday. 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 company has a market capitalization of $3.30 billion, a price-to-earnings ratio of -12.89 and a beta of 1.13. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The stock has a 50-day simple moving average of $19.39 and a 200 day simple moving average of $16.83.

About Asana

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.