Quantinno Capital Management LP Invests $848,000 in Asana, Inc. (NYSE:ASAN)

Quantinno Capital Management LP purchased a new position in Asana, Inc. (NYSE:ASAN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,830 shares of the company's stock, valued at approximately $848,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Nuveen Asset Management LLC increased its position in Asana by 11.8% in the fourth quarter. Nuveen Asset Management LLC now owns 248,433 shares of the company's stock worth $5,036,000 after buying an additional 26,165 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in Asana in the fourth quarter worth about $931,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Asana by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,218 shares of the company's stock worth $937,000 after buying an additional 2,538 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Asana by 280.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 287,353 shares of the company's stock worth $5,825,000 after purchasing an additional 211,769 shares in the last quarter. Finally, FORA Capital LLC purchased a new stake in shares of Asana during the fourth quarter worth about $721,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Asana Price Performance

Asana stock traded down $0.07 during midday trading on Thursday, reaching $18.22. 671,608 shares of the stock traded hands, compared to its average volume of 2,784,659. The stock's fifty day moving average is $16.05 and its 200-day moving average is $18.14. 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 $4.25 billion, a P/E ratio of -16.21 and a beta of 1.21. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17.

Insider Activity

In other news, COO Anne Raimondi sold 18,775 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total value of $263,413.25. Following the completion of the sale, the chief operating officer now directly owns 716,580 shares of the company's stock, valued at $10,053,617.40. This trade represents a 2.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of the stock in a transaction dated Monday, March 17th. The stock was bought at an average cost of $14.02 per share, with a total value of $3,154,500.00. Following the completion of the purchase, the chief executive officer now directly owns 48,573,436 shares in the company, valued at approximately $680,999,572.72. The trade was a 0.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 2,074,507 shares of company stock valued at $30,025,743 in the last ninety days. Insiders own 61.28% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a research report on Tuesday, March 11th. Jefferies Financial Group cut their target price on Asana from $19.00 to $15.00 and set a "hold" rating for the company in a research report on Tuesday, March 11th. JMP Securities set a $22.00 target price on Asana in a research report on Tuesday, March 11th. DA Davidson cut their target price on Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, Piper Sandler cut their target price on Asana from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently 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.