PDT Partners LLC Makes New Investment in Asana, Inc. (NYSE:ASAN)

PDT Partners LLC bought a new position in shares of Asana, Inc. (NYSE:ASAN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 28,100 shares of the company's stock, valued at approximately $570,000.

A number of other hedge funds have also bought and sold shares of the business. Quarry LP acquired a new position in Asana in the 4th quarter valued at $29,000. Bogart Wealth LLC bought a new stake in Asana during the fourth quarter worth $61,000. SBI Securities Co. Ltd. bought a new position in shares of Asana in the 4th quarter valued at $82,000. KBC Group NV lifted its stake in Asana by 58.8% in the 4th quarter. KBC Group NV now owns 5,612 shares of the company's stock valued at $114,000 after purchasing an additional 2,078 shares during the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Asana during the fourth quarter worth $135,000. 26.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Justin Rosenstein sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the transaction, the director now owns 922,309 shares of the company's stock, valued at $11,888,563.01. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dustin A. Moskovitz bought 225,000 shares of the stock in a transaction on Monday, March 17th. The stock was purchased at an average price of $14.02 per share, with a total value of $3,154,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 48,573,436 shares in the company, valued at approximately $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 quarter, insiders bought 2,074,507 shares of company stock valued at $30,025,743 and sold 193,775 shares valued at $3,549,663. 63.97% of the stock is currently owned by insiders.

Asana Stock Up 0.8 %

Shares of NYSE:ASAN traded up $0.13 during trading on Wednesday, reaching $16.54. 254,653 shares of the stock traded hands, compared to its average volume of 2,729,234. The stock has a 50-day moving average of $15.43 and a two-hundred day moving average of $17.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77. The stock has a market cap of $3.85 billion, a P/E ratio of -14.72 and a beta of 1.21.

Analyst Ratings Changes

A number of brokerages recently issued reports on ASAN. Citigroup increased their target price on Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Bank of America lowered their price objective 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. DA Davidson dropped their target price on shares of Asana from $20.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price target on shares of Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a research note on Tuesday, March 11th. Finally, Jefferies Financial Group reduced their price objective on Asana from $19.00 to $15.00 and set a "hold" rating for the company in a report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Asana presently has an average rating of "Hold" and a consensus target price 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.