Voloridge Investment Management LLC Purchases 438,057 Shares of Asana, Inc. (NYSE:ASAN)

Voloridge Investment Management LLC increased its stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 25.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,149,680 shares of the company's stock after acquiring an additional 438,057 shares during the quarter. Voloridge Investment Management LLC owned about 0.94% of Asana worth $43,574,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Virtu Financial LLC bought a new position in Asana during the fourth quarter worth $2,349,000. Meeder Asset Management Inc. increased its position in Asana by 49.2% during the fourth quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company's stock worth $1,572,000 after acquiring an additional 25,564 shares during the period. Charles Schwab Investment Management Inc. increased its position in Asana by 7.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company's stock worth $14,083,000 after acquiring an additional 48,831 shares during the period. Teacher Retirement System of Texas bought a new position in Asana during the fourth quarter worth $1,310,000. Finally, Barclays PLC increased its position in Asana by 103.0% during the third quarter. Barclays PLC now owns 165,753 shares of the company's stock worth $1,920,000 after acquiring an additional 84,114 shares during the period. Institutional investors own 26.21% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on ASAN. DA Davidson lowered their price target on shares of Asana from $20.00 to $12.00 and set a "neutral" rating on the stock 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 target on the stock. in a report on Tuesday. UBS Group lowered their price target on shares of Asana from $18.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Jefferies Financial Group lowered their price target on shares of Asana from $19.00 to $15.00 and set a "hold" rating on the stock in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Asana from $15.00 to $13.00 and set an "underweight" rating on the stock 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 stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $15.53.

Asana Price Performance

Shares of NYSE:ASAN traded down $0.23 on Friday, hitting $17.47. The stock had a trading volume of 1,411,821 shares, compared to its average volume of 2,790,004. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The firm's 50 day moving average price is $15.83 and its 200-day moving average price is $18.06. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -15.60 and a beta of 1.21.

Insider Buying and Selling

In related news, Director Justin Rosenstein sold 150,000 shares of the company's stock in a transaction dated Monday, February 24th. The shares were 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 $21,682,825.84. This represents a 12.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $12.91 per share, for a total transaction of $2,904,750.00. Following the transaction, the chief executive officer now owns 48,123,436 shares in the company, valued at $621,273,558.76. This represents a 0.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 2,074,507 shares of company stock worth $30,025,743 and have sold 193,775 shares worth $3,549,663. 61.28% of the stock is owned by corporate insiders.

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.