Occudo Quantitative Strategies LP Makes New Investment in Asana, Inc. (NYSE:ASAN)

Occudo Quantitative Strategies LP bought a new stake in Asana, Inc. (NYSE:ASAN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 45,932 shares of the company's stock, valued at approximately $931,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ASAN. Voya Investment Management LLC grew its holdings in shares of Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock worth $254,166,000 after purchasing an additional 937,726 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Asana in the fourth quarter worth about $38,966,000. First Trust Advisors LP grew its holdings in shares of Asana by 17.6% in the fourth quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock worth $35,350,000 after purchasing an additional 261,298 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Asana by 0.5% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,377,704 shares of the company's stock worth $27,926,000 after purchasing an additional 7,269 shares during the last quarter. Finally, Paradice Investment Management LLC bought a new position in shares of Asana in the fourth quarter worth about $22,507,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Scotiabank cut their price target on shares of Asana from $18.00 to $12.00 and set a "sector perform" rating on the stock in a report on Tuesday, March 11th. DA Davidson cut 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. Robert W. Baird cut their price target on shares of Asana from $23.00 to $13.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. UBS Group cut 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. Finally, JMP Securities set a $22.00 target price on shares of Asana in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Asana has a consensus rating of "Hold" and a consensus target price of $15.53.

Asana Stock Up 0.9%

Shares of NYSE:ASAN traded up $0.15 during trading on Friday, reaching $18.22. The stock had a trading volume of 3,044,589 shares, compared to its average volume of 2,766,085. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The company has a market capitalization of $4.25 billion, a P/E ratio of -16.27 and a beta of 1.21. 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 firm's 50-day simple moving average is $15.44 and its 200 day simple moving average is $17.89.

Insider Activity

In related news, Director Justin Rosenstein sold 150,000 shares of Asana stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $19.76, for a total value of $2,964,000.00. Following the completion of the sale, the director now directly owns 1,097,309 shares in the company, valued at $21,682,825.84. This trade represents a 12.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dustin A. Moskovitz bought 225,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average price of $14.02 per share, with a total value of $3,154,500.00. Following the completion of the purchase, the chief executive officer now directly owns 48,573,436 shares in the company, valued at $680,999,572.72. This represents a 0.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 2,074,507 shares of company stock worth $30,025,743 and have sold 193,775 shares worth $3,549,663. Company insiders own 61.28% of the company's stock.

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.