Meeder Asset Management Inc. Boosts Holdings in Asana, Inc. (NYSE:ASAN)

Meeder Asset Management Inc. raised its stake in shares of Asana, Inc. (NYSE:ASAN) by 49.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 77,576 shares of the company’s stock after buying an additional 25,564 shares during the period. Meeder Asset Management Inc.’s holdings in Asana were worth $1,572,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bogart Wealth LLC acquired a new stake in Asana during the fourth quarter worth about $61,000. Quest Partners LLC acquired a new stake in shares of Asana during the 3rd quarter worth approximately $43,000. SBI Securities Co. Ltd. purchased a new position in shares of Asana during the 4th quarter valued at approximately $82,000. KBC Group NV lifted its stake in shares of Asana by 58.8% in the 4th quarter. KBC Group NV now owns 5,612 shares of the company’s stock valued at $114,000 after purchasing an additional 2,078 shares during the period. Finally, TruNorth Capital Management LLC purchased a new stake in Asana during the fourth quarter worth $163,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Stock Performance

NYSE ASAN opened at $14.87 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market cap of $3.46 billion, a P/E ratio of -13.27 and a beta of 1.13. The stock has a 50-day moving average of $18.97 and a two-hundred day moving average of $16.98. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77.

Insider Activity at Asana

In related news, CEO Dustin A. Moskovitz bought 225,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $12.91 per share, for a total transaction of $2,904,750.00. Following the completion of the acquisition, the chief executive officer now owns 48,123,436 shares in the company, valued at approximately $621,273,558.76. This trade represents a 0.47 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justin Rosenstein sold 200,000 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $21.67, for a total value of $4,334,000.00. Following the sale, the director now owns 1,847,309 shares in the company, valued at approximately $40,031,186.03. This trade represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 900,000 shares of company stock worth $12,735,000 and sold 739,842 shares worth $15,155,503. Company insiders own 63.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ASAN. Morgan Stanley cut their price objective on shares of Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. JMP Securities set a $22.00 price target on Asana in a research note on Tuesday, March 11th. Piper Sandler lowered their price target on Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. Scotiabank decreased their target price on Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Tuesday, March 11th. Finally, KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective on the stock in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.67.

Asana Company 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.