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

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bogart Wealth LLC purchased a new position in Asana during the 4th quarter valued at $61,000. SBI Securities Co. Ltd. bought a new stake in Asana during the 4th quarter valued at about $82,000. KBC Group NV grew its stake in Asana by 58.8% in the 4th quarter. KBC Group NV now owns 5,612 shares of the company's stock worth $114,000 after acquiring an additional 2,078 shares in the last quarter. TruNorth Capital Management LLC bought a new position in Asana in the 4th quarter worth about $163,000. Finally, Empirical Asset Management LLC purchased a new position in shares of Asana during the fourth quarter worth approximately $218,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Insider Transactions at Asana

In related news, CEO Dustin A. Moskovitz bought 50,000 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was bought at an average cost of $15.84 per share, for a total transaction of $792,000.00. Following the acquisition, the chief executive officer now directly owns 51,398,436 shares in the company, valued at $814,151,226.24. This represents a 0.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Anne Raimondi sold 18,775 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.03, for a total transaction of $263,413.25. Following the transaction, the chief operating officer now directly owns 716,580 shares in the company, valued at approximately $10,053,617.40. The trade was a 2.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 2,074,507 shares of company stock valued at $30,025,743 and have sold 389,842 shares valued at $7,820,003. Insiders own 63.97% of the company's stock.

Asana Price Performance

NYSE:ASAN traded up $0.21 during trading hours on Friday, hitting $16.26. 1,511,504 shares of the stock were exchanged, compared to its average volume of 2,739,877. The firm's fifty day moving average price is $15.61 and its 200 day moving average price is $17.49. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.79 billion, a P/E ratio of -14.52 and a beta of 1.23.

Analyst Ratings Changes

Several brokerages recently issued reports on ASAN. JMP Securities set a $22.00 price objective on Asana in a research note on Tuesday, March 11th. Scotiabank decreased their price objective on Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a report on Tuesday, March 11th. UBS Group dropped their target price 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. Bank of America lowered their price target on shares of Asana from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. Finally, Morgan Stanley lowered their target price on Asana from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Asana presently has a consensus rating of "Hold" and a consensus price target of $15.53.

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.