80,771 Shares in Asana, Inc. (NYSE:ASAN) Acquired by Twinbeech Capital LP

Twinbeech Capital LP acquired a new stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 80,771 shares of the company's stock, valued at approximately $1,637,000.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Asana during the fourth quarter valued at approximately $29,000. Bogart Wealth LLC purchased a new stake in Asana during the 4th quarter valued at $61,000. SBI Securities Co. Ltd. bought a new stake in shares of Asana in the 4th quarter worth $82,000. KBC Group NV raised its stake in shares of Asana by 58.8% in the fourth quarter. KBC Group NV now owns 5,612 shares of the company's stock worth $114,000 after purchasing an additional 2,078 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new position in shares of Asana during the fourth quarter valued at $135,000. 26.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ASAN shares. JPMorgan Chase & Co. reduced their price objective on Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a report on Tuesday, March 11th. Robert W. Baird reduced their price target on shares of Asana from $23.00 to $13.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. DA Davidson lowered their price objective on shares of Asana from $20.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Morgan Stanley cut shares of Asana from an "equal weight" rating to an "underweight" rating and set a $14.00 target price on the stock. in a report on Tuesday. Finally, Scotiabank decreased their target price on shares of Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a research note on Tuesday, March 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Asana currently has a consensus rating of "Hold" and a consensus target price of $15.53.

Insider Transactions at Asana

In other news, Director Justin Rosenstein sold 150,000 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $19.76, for a total value of $2,964,000.00. Following the completion of the transaction, the director now owns 1,097,309 shares of the company's stock, valued at $21,682,825.84. This represents a 12.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Anne Raimondi sold 18,775 shares of Asana stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $14.03, for a total transaction of $263,413.25. Following the sale, the chief operating officer now owns 716,580 shares in the company, valued at approximately $10,053,617.40. The trade was a 2.55% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders bought 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 61.28% of the company's stock.

Asana Price Performance

NYSE ASAN opened at $16.90 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of -15.09 and a beta of 1.21. The company's 50 day moving average is $15.69 and its two-hundred day moving average is $17.99.

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.

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