Marshall Wace LLP Takes $1.71 Million Position in Asana, Inc. (NYSE:ASAN)

Marshall Wace LLP purchased a new stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 84,529 shares of the company's stock, valued at approximately $1,713,000.

Several other institutional investors have also added to or reduced their stakes in ASAN. Arrowstreet Capital Limited Partnership bought a new stake in Asana in the fourth quarter valued at $38,966,000. Paradice Investment Management LLC purchased a new position in shares of Asana during the fourth quarter valued at about $22,507,000. JPMorgan Chase & Co. increased its position in shares of Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company's stock valued at $9,650,000 after buying an additional 427,576 shares during the period. Bank of New York Mellon Corp raised its stake in Asana by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 805,649 shares of the company's stock worth $16,331,000 after buying an additional 11,896 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Asana by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company's stock worth $14,083,000 after buying an additional 48,831 shares during the period. Hedge funds and other institutional investors own 26.21% of the company's stock.

Asana Stock Performance

Shares of ASAN traded up $0.21 during trading hours on Friday, hitting $16.26. The stock had a trading volume of 1,511,504 shares, compared to its average volume of 2,744,097. The firm has a market capitalization of $3.79 billion, a PE ratio of -14.52 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. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The stock has a fifty day moving average price of $15.55 and a 200 day moving average price of $17.59.

Insider Buying and Selling at Asana

In related news, Director Justin Rosenstein sold 150,000 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $19.76, for a total value of $2,964,000.00. Following the transaction, the director now directly owns 1,097,309 shares of the company's stock, valued at approximately $21,682,825.84. This trade represents a 12.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of the business's stock in a transaction on Monday, March 17th. The shares were bought at an average cost of $14.02 per share, with a total value of $3,154,500.00. Following the acquisition, the chief executive officer now directly owns 48,573,436 shares of the company's stock, valued at $680,999,572.72. This trade represents a 0.47 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 2,074,507 shares of company stock worth $30,025,743 and sold 389,842 shares worth $7,820,003. Corporate insiders own 63.97% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ASAN shares. JMP Securities set a $22.00 target price on Asana in a report on Tuesday, March 11th. Morgan Stanley decreased their price objective on Asana from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Bank of America reduced their target price on shares of Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, March 11th. Scotiabank lowered their price target on shares of Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a research report on Tuesday, March 11th. Finally, Jefferies Financial Group cut their price objective 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price 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.