Two Sigma Investments LP Purchases 1,043,047 Shares of Asana, Inc. (NYSE:ASAN)

Two Sigma Investments LP boosted its stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 288.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,405,088 shares of the company's stock after purchasing an additional 1,043,047 shares during the quarter. Two Sigma Investments LP owned about 0.61% of Asana worth $28,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Asana Stock Down 5.2%

Asana stock opened at $16.90 on Thursday. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -15.09 and a beta of 1.21. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The business's 50-day moving average price is $15.69 and its 200 day moving average price is $17.99. 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 Buying and Selling

In related news, CEO Dustin A. Moskovitz bought 50,000 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The shares were purchased at an average cost 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. The trade was a 0.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justin Rosenstein sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $12.89, for a total value of $322,250.00. Following the completion of the sale, the director now directly owns 922,309 shares in the company, valued at approximately $11,888,563.01. The trade was a 2.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 2,074,507 shares of company stock valued at $30,025,743 and have sold 193,775 shares valued at $3,549,663. 61.28% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ASAN shares. Robert W. Baird decreased their price target on Asana from $23.00 to $13.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. JMP Securities set a $22.00 price target on Asana in a research note on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price target on Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a research note on Tuesday, March 11th. Scotiabank decreased their price target on Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a research note on Tuesday, March 11th. Finally, Jefferies Financial Group reduced their price objective on Asana from $19.00 to $15.00 and set a "hold" rating for the company in a research note on Tuesday, March 11th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Asana presently has a consensus rating of "Hold" and a consensus price target of $15.53.

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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