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

Two Sigma Advisers LP raised its holdings in Asana, Inc. (NYSE:ASAN - Free Report) by 70.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 923,800 shares of the company's stock after purchasing an additional 381,400 shares during the period. Two Sigma Advisers LP owned 0.40% of Asana worth $18,725,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ASAN. Arrowstreet Capital Limited Partnership bought a new position in shares of Asana in the fourth quarter valued at approximately $38,966,000. Paradice Investment Management LLC bought a new stake in Asana during the fourth quarter valued at approximately $22,507,000. Two Sigma Investments LP lifted its holdings in shares of Asana by 288.1% in the 4th quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock worth $28,481,000 after acquiring an additional 1,043,047 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock worth $254,166,000 after buying an additional 937,726 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Asana in the fourth quarter worth $11,781,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Insider Activity at Asana

In other news, 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 value of $263,413.25. Following the completion of the sale, the chief operating officer now directly owns 716,580 shares in the company, valued at $10,053,617.40. The trade was a 2.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Justin Rosenstein sold 25,000 shares of Asana stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the sale, the director now owns 922,309 shares of the company's stock, valued at $11,888,563.01. This represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 2,074,507 shares of company stock valued at $30,025,743. 61.28% of the stock is owned by insiders.

Analysts Set New Price Targets

ASAN has been the topic of several analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a research note on Tuesday, March 11th. Bank of America decreased their price objective on shares of Asana from $30.00 to $25.00 and set a "buy" rating for the company in a 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 report on Tuesday, March 11th. Morgan Stanley lowered shares of Asana from an "equal weight" rating to an "underweight" rating and set a $14.00 price objective for the company. in a report on Tuesday, May 20th. Finally, Scotiabank decreased their price objective on shares of Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a report on Tuesday, March 11th. Three 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's stock. According to MarketBeat.com, Asana currently has a consensus rating of "Hold" and an average price target of $15.53.

Asana Stock Up 1.6%

ASAN stock traded up $0.29 during trading on Tuesday, hitting $17.76. 483,688 shares of the stock traded hands, compared to its average volume of 2,786,640. 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 $15.90 and its two-hundred day moving average is $18.14. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of -15.85 and a beta of 1.21. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

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.