Woodline Partners LP Acquires New Shares in Asana, Inc. (NYSE:ASAN)

Woodline Partners LP acquired a new stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 86,075 shares of the company's stock, valued at approximately $1,745,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC grew its position in shares of Asana by 103.0% during the 3rd quarter. Barclays PLC now owns 165,753 shares of the company's stock valued at $1,920,000 after buying an additional 84,114 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Asana by 1,934.8% in the 4th quarter. Blue Trust Inc. now owns 21,081 shares of the company's stock worth $427,000 after acquiring an additional 20,045 shares during the period. KBC Group NV grew its holdings in Asana by 58.8% during the fourth quarter. KBC Group NV now owns 5,612 shares of the company's stock worth $114,000 after acquiring an additional 2,078 shares during the period. Empowered Funds LLC acquired a new stake in shares of Asana during the 4th quarter valued at $366,000. Finally, Savant Capital LLC purchased a new position in shares of Asana in the fourth quarter worth approximately $1,779,000. 26.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JMP Securities set a $22.00 target price on shares of Asana in a research report on Tuesday, March 11th. Morgan Stanley cut 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 report on Tuesday, May 20th. Piper Sandler reduced their target price on shares of Asana from $18.00 to $17.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Scotiabank reduced their target price on shares of Asana from $18.00 to $12.00 and set a "sector perform" rating on the stock in a research note on Tuesday, March 11th. Finally, DA Davidson lowered their price target on shares of Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $15.53.

Asana Trading Down 0.5%

Shares of Asana stock traded down $0.09 during trading hours on Thursday, hitting $18.21. The company's stock had a trading volume of 1,296,908 shares, compared to its average volume of 2,788,768. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. 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 company has a market capitalization of $4.24 billion, a PE ratio of -16.26 and a beta of 1.21. The stock has a 50 day moving average of $16.05 and a 200 day moving average of $18.14.

Insider Buying and Selling

In other Asana news, CEO Dustin A. Moskovitz acquired 225,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $12.91 per share, with a total value of $2,904,750.00. Following the completion of the transaction, the chief executive officer now directly owns 48,123,436 shares in the company, valued at approximately $621,273,558.76. This represents a 0.47% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Justin Rosenstein sold 25,000 shares of the firm's stock in a transaction 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 sale, the director now directly owns 922,309 shares of the company's stock, valued at $11,888,563.01. This represents a 2.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 2,074,507 shares of company stock worth $30,025,743. 61.28% of the stock is owned by 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.