PDT Partners LLC Acquires Shares of 28,100 Asana, Inc. (NYSE:ASAN)

PDT Partners LLC purchased a new position in shares of Asana, Inc. (NYSE:ASAN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 28,100 shares of the company's stock, valued at approximately $570,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC acquired a new stake in Asana in the fourth quarter valued at approximately $1,892,000. Northern Trust Corp increased its holdings in Asana by 2.3% in the 4th quarter. Northern Trust Corp now owns 811,316 shares of the company's stock worth $16,445,000 after purchasing an additional 18,599 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in Asana in the fourth quarter valued at about $5,396,000. Quarry LP acquired a new stake in shares of Asana during the fourth quarter valued at about $29,000. Finally, Aquatic Capital Management LLC grew its holdings in shares of Asana by 233.8% during the fourth quarter. Aquatic Capital Management LLC now owns 142,516 shares of the company's stock worth $2,889,000 after purchasing an additional 99,816 shares during the last quarter. 26.21% of the stock is owned by institutional investors.

Insider Buying and Selling at Asana

In related news, CEO Dustin A. Moskovitz purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was acquired at an average cost of $15.84 per share, with a total value of $792,000.00. Following the transaction, the chief executive officer now owns 51,398,436 shares of the company's stock, valued at $814,151,226.24. This represents a 0.10 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Anne Raimondi sold 18,775 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $14.03, for a total value of $263,413.25. Following the transaction, the chief operating officer now owns 716,580 shares in the company, valued at approximately $10,053,617.40. This trade represents a 2.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 2,074,507 shares of company stock worth $30,025,743 and sold 389,842 shares worth $7,820,003. Company insiders own 63.97% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on ASAN. JPMorgan Chase & Co. cut their target price on shares of Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a research report on Tuesday, March 11th. Piper Sandler decreased their price objective on Asana from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. UBS Group cut their target price on Asana from $18.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Citigroup increased their price target on Asana from $16.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Finally, Scotiabank cut their price objective on Asana from $18.00 to $12.00 and set a "sector perform" rating on the stock in a research note on Tuesday, March 11th. Two investment 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's stock. Based on data from MarketBeat, Asana currently has an average rating of "Hold" and a consensus target price of $15.53.

Asana Stock Up 1.3 %

Shares of NYSE ASAN traded up $0.21 during mid-day trading on Friday, reaching $16.26. 1,511,504 shares of the company's stock traded hands, compared to its average volume of 2,744,097. 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 business has a 50-day simple moving average of $15.55 and a 200 day simple moving average of $17.59. The stock has a market cap of $3.79 billion, a P/E ratio of -14.52 and a beta of 1.21. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77.

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.