Bayesian Capital Management LP Makes New Investment in Asana, Inc. (NYSE:ASAN)

Bayesian Capital Management LP bought a new position in shares of Asana, Inc. (NYSE:ASAN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 64,753 shares of the company's stock, valued at approximately $1,313,000.

Other institutional investors have also made changes to their positions in the company. Voya Investment Management LLC lifted its holdings in shares of Asana by 8.1% during the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock worth $254,166,000 after acquiring an additional 937,726 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Asana during the 4th quarter worth $38,966,000. First Trust Advisors LP boosted its stake in shares of Asana by 17.6% in the 4th quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock valued at $35,350,000 after purchasing an additional 261,298 shares in the last quarter. Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Asana by 0.5% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 1,377,704 shares of the company's stock valued at $27,926,000 after purchasing an additional 7,269 shares during the last quarter. Finally, Paradice Investment Management LLC bought a new position in Asana in the 4th quarter valued at approximately $22,507,000. 26.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Justin Rosenstein sold 150,000 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $19.76, for a total transaction of $2,964,000.00. Following the completion of the transaction, the director now owns 1,097,309 shares in the company, valued at $21,682,825.84. This represents a 12.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dustin A. Moskovitz acquired 50,000 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was bought at an average price of $15.84 per share, with a total value of $792,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 51,398,436 shares in the company, valued at approximately $814,151,226.24. This represents a 0.10 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 2,074,507 shares of company stock valued at $30,025,743 and sold 193,775 shares valued at $3,549,663. Corporate insiders own 63.97% of the company's stock.

Asana Stock Performance

Shares of ASAN stock traded down $0.04 during trading on Friday, reaching $17.21. 1,766,095 shares of the company's stock traded hands, compared to its average volume of 2,742,848. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The firm's 50-day moving average is $15.32 and its 200 day moving average is $17.71. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $4.01 billion, a P/E ratio of -15.37 and a beta of 1.21.

Analyst Ratings Changes

A number of research firms have weighed in on ASAN. Morgan Stanley decreased their target price on shares of Asana from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler reduced their price target on Asana from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a research note on Tuesday, March 11th. Citigroup lifted their price target on shares of Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Finally, Jefferies Financial Group decreased their price objective on Asana from $19.00 to $15.00 and set a "hold" rating for the company in a report 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 given a buy rating to the stock. According to MarketBeat.com, Asana has a consensus rating of "Hold" and a consensus price target of $15.53.

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.