Savant Capital LLC Makes New Investment in Asana, Inc. (NYSE:ASAN)

Savant Capital LLC bought a new position in Asana, Inc. (NYSE:ASAN) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 87,754 shares of the company’s stock, valued at approximately $1,779,000.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after purchasing an additional 427,576 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Asana during the third quarter valued at approximately $538,000. Neo Ivy Capital Management raised its holdings in shares of Asana by 195.1% during the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock valued at $1,964,000 after purchasing an additional 112,038 shares during the last quarter. Friedenthal Financial purchased a new position in shares of Asana during the fourth quarter valued at approximately $762,000. Finally, Intech Investment Management LLC purchased a new position in shares of Asana during the third quarter valued at approximately $456,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Asana Price Performance

Asana stock opened at $24.27 on Friday. The company has a market cap of $5.55 billion, a price-to-earnings ratio of -21.66 and a beta of 1.11. The firm’s fifty day moving average is $21.45 and its 200 day moving average is $15.97. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77.

Wall Street Analysts Forecast Growth

ASAN has been the subject of several research reports. Royal Bank of Canada reissued an “underperform” rating and set a $10.00 price objective on shares of Asana in a report on Friday, December 6th. DA Davidson boosted their target price on shares of 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 boosted their target price on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their price target on shares of Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group upped their price target on shares of Asana from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Asana has an average rating of “Hold” and an average target price of $17.73.

Insider Activity

In other news, 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 sale, the chief operating officer now owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. This represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the completion of the transaction, the director now owns 2,047,309 shares in the company, valued at $40,966,653.09. This represents a 6.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 573,300 shares of company stock valued at $12,197,068. 63.97% of the stock is currently owned by company 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.