Pictet Asset Management Holding SA Makes New $239,000 Investment in Asana, Inc. (NYSE:ASAN)

Pictet Asset Management Holding SA purchased a new stake in Asana, Inc. (NYSE:ASAN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,781 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Paradice Investment Management LLC purchased a new position in Asana during the 4th quarter valued at about $22,507,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Asana in the fourth quarter valued at approximately $11,781,000. JPMorgan Chase & Co. increased its stake in shares of Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after purchasing an additional 427,576 shares in the last quarter. Brooklyn FI LLC acquired a new position in shares of Asana during the 4th quarter worth approximately $8,138,000. Finally, Norges Bank acquired a new position in shares of Asana during the 4th quarter worth approximately $4,617,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ASAN shares. Jefferies Financial Group dropped their price target on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, March 11th. Robert W. Baird dropped their price objective on Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. JPMorgan Chase & Co. cut their target price on shares of Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research note on Tuesday, March 11th. Morgan Stanley decreased their price target 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. Finally, DA Davidson cut their price objective on shares of Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.67.

Asana Trading Down 4.6 %

ASAN stock opened at $15.51 on Friday. 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 $3.61 billion, a price-to-earnings ratio of -13.84 and a beta of 1.23. The business has a fifty day simple moving average of $17.69 and a 200-day simple moving average of $17.13. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77.

Insiders Place Their Bets

In other news, COO Anne Raimondi sold 18,775 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $14.03, for a total value of $263,413.25. Following the transaction, the chief operating officer now owns 716,580 shares of the company’s stock, valued at approximately $10,053,617.40. This trade represents a 2.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Justin Rosenstein sold 25,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the sale, the director now directly owns 922,309 shares of the company’s stock, valued at approximately $11,888,563.01. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 2,024,507 shares of company stock worth $29,233,743 and sold 739,842 shares worth $15,155,503. 63.97% of the stock is currently owned by 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.