Two Sigma Advisers LP Acquires 381,400 Shares of Asana, Inc. (NYSE:ASAN)

Two Sigma Advisers LP grew its holdings in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 70.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 923,800 shares of the company's stock after acquiring an additional 381,400 shares during the period. Two Sigma Advisers LP owned about 0.40% of Asana worth $18,725,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ASAN. Voya Investment Management LLC increased its holdings in Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after purchasing an additional 937,726 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Asana during the 4th quarter worth about $38,966,000. First Trust Advisors LP grew its position 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 buying an additional 261,298 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of Asana by 288.1% in the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock valued at $28,481,000 after buying an additional 1,043,047 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in shares of Asana by 0.5% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,377,704 shares of the company's stock valued at $27,926,000 after buying an additional 7,269 shares during the period. Institutional investors own 26.21% of the company's stock.

Asana Price Performance

Shares of NYSE ASAN opened at $16.90 on Thursday. The firm has a market capitalization of $3.94 billion, a P/E ratio of -15.09 and a beta of 1.21. The firm's 50-day moving average price is $15.69 and its 200-day moving average price is $17.99. 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 1-year low of $11.05 and a 1-year high of $27.77.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ASAN shares. Morgan Stanley lowered Asana from an "equal weight" rating to an "underweight" rating and set a $14.00 price objective on the stock. in a research note on Tuesday. Jefferies Financial Group lowered their price target on shares of Asana from $19.00 to $15.00 and set a "hold" rating for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. dropped their price target on shares of Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a research report on Tuesday, March 11th. UBS Group decreased their price objective on shares of Asana from $18.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, Piper Sandler dropped their target price on shares of Asana from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $15.53.

Insider Activity at Asana

In other Asana news, CEO Dustin A. Moskovitz purchased 50,000 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was acquired at an average price of $15.84 per share, for a total transaction of $792,000.00. Following the purchase, the chief executive officer now owns 51,398,436 shares of the company's stock, valued at $814,151,226.24. This trade represents a 0.10% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Justin Rosenstein sold 150,000 shares of the company's stock in a transaction 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 transaction, the director now owns 1,097,309 shares in the company, valued at approximately $21,682,825.84. The trade was a 12.03% decrease in their position. The disclosure for this sale can be found here. In 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. 61.28% of the stock is currently owned by corporate insiders.

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.

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