Meeder Asset Management Inc. Purchases 25,564 Shares of Asana, Inc. (NYSE:ASAN)

Meeder Asset Management Inc. boosted its holdings in Asana, Inc. (NYSE:ASAN) by 49.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,576 shares of the company’s stock after acquiring an additional 25,564 shares during the quarter. Meeder Asset Management Inc.’s holdings in Asana were worth $1,572,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of Asana in the third quarter worth $43,000. Bogart Wealth LLC bought a new stake in Asana in the 4th quarter worth about $61,000. SBI Securities Co. Ltd. purchased a new position in Asana in the 4th quarter worth about $82,000. KBC Group NV lifted its stake in Asana by 58.8% during the 4th quarter. KBC Group NV now owns 5,612 shares of the company’s stock valued at $114,000 after acquiring an additional 2,078 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in shares of Asana during the 3rd quarter valued at about $143,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ASAN shares. DA Davidson decreased their price objective on shares of Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Morgan Stanley decreased their target price on shares of Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Scotiabank dropped their price target on Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Tuesday, March 11th. Robert W. Baird cut their price objective on Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, JMP Securities set a $22.00 target price on Asana in a report on Tuesday, March 11th. Two research 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 data from MarketBeat.com, Asana presently has a consensus rating of “Hold” and an average price target of $15.67.

Insider Buying and Selling at Asana

In other news, Director Justin Rosenstein sold 200,000 shares of Asana stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $21.67, for a total transaction of $4,334,000.00. Following the sale, the director now owns 1,847,309 shares in the company, valued at $40,031,186.03. This trade represents a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dustin A. Moskovitz bought 225,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was bought at an average cost of $15.33 per share, for a total transaction of $3,449,250.00. Following the acquisition, the chief executive officer now directly owns 49,473,436 shares of the company’s stock, valued at approximately $758,427,773.88. This represents a 0.46 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 900,000 shares of company stock valued at $12,735,000 and have sold 739,842 shares valued at $15,155,503. Insiders own 63.97% of the company’s stock.

Asana Stock Up 0.5 %

ASAN opened at $14.87 on Monday. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -13.27 and a beta of 1.13. 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’s fifty day moving average is $18.97 and its 200 day moving average is $16.98. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77.

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.