Asana, Inc. (NYSE:ASAN) Shares Purchased by Two Sigma Investments LP

Two Sigma Investments LP boosted its position in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 288.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,405,088 shares of the company's stock after buying an additional 1,043,047 shares during the quarter. Two Sigma Investments LP owned 0.61% of Asana worth $28,481,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Asana during the fourth quarter valued at $29,000. Bogart Wealth LLC purchased a new stake in shares of Asana during the fourth quarter valued at $61,000. SBI Securities Co. Ltd. purchased a new stake in shares of Asana during the fourth quarter valued at $82,000. KBC Group NV boosted its stake in shares of Asana by 58.8% during the fourth quarter. KBC Group NV now owns 5,612 shares of the company's stock valued at $114,000 after purchasing an additional 2,078 shares during the period. Finally, State of Tennessee Department of Treasury purchased a new stake in shares of Asana during the fourth quarter valued at $135,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Dustin A. Moskovitz bought 50,000 shares of Asana stock in a transaction on Tuesday, April 15th. The stock was acquired at an average cost of $15.84 per share, for a total transaction of $792,000.00. Following the completion of the acquisition, 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 the SEC website. Also, Director Justin Rosenstein sold 25,000 shares of the business's stock in a transaction dated 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 transaction, 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. Over the last ninety days, insiders bought 2,074,507 shares of company stock worth $30,025,743. 61.28% of the stock is owned by corporate insiders.

Asana Stock Up 1.7%

Asana stock traded up $0.29 during trading hours on Tuesday, reaching $17.76. The stock had a trading volume of 428,539 shares, compared to its average volume of 3,031,434. The company has a market cap of $4.14 billion, a price-to-earnings ratio of -15.86 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. The business's 50 day moving average price is $15.90 and its 200-day moving average price is $18.14. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Bank of America lowered their target price on shares of Asana from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, March 11th. JMP Securities set a $22.00 target price on shares of Asana in a research note on Tuesday, March 11th. Morgan Stanley lowered shares of Asana from an "equal weight" rating to an "underweight" rating and set a $14.00 target price for the company. in a research note on Tuesday, May 20th. Jefferies Financial Group lowered their price objective on shares of Asana from $19.00 to $15.00 and set a "hold" rating for the company in a research note on Tuesday, March 11th. Finally, DA Davidson lowered their price objective on shares of Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Three research 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $15.53.

Asana 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.