Tudor Investment Corp ET AL Makes New Investment in Asana, Inc. (NYSE:ASAN)

Tudor Investment Corp ET AL acquired a new position in Asana, Inc. (NYSE:ASAN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 266,210 shares of the company's stock, valued at approximately $5,396,000. Tudor Investment Corp ET AL owned approximately 0.12% of Asana at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Quarry LP purchased a new stake in Asana in the 4th quarter worth approximately $29,000. KBC Group NV raised its holdings in shares of Asana by 58.8% during the fourth 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. MetLife Investment Management LLC boosted its position in Asana by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 49,483 shares of the company's stock valued at $1,003,000 after purchasing an additional 2,668 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Asana by 19.0% in the fourth quarter. Handelsbanken Fonder AB now owns 18,200 shares of the company's stock valued at $369,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Bogart Wealth LLC acquired a new position in Asana in the 4th quarter worth about $61,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Justin Rosenstein sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the transaction, the director now owns 922,309 shares in the company, valued at $11,888,563.01. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of the stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $12.91 per share, for a total transaction of $2,904,750.00. Following the completion of the transaction, the chief executive officer now directly owns 48,123,436 shares of the company's stock, valued at approximately $621,273,558.76. This trade represents a 0.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over 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. 63.97% of the stock is currently owned by company insiders.

Asana Stock Performance

ASAN stock traded up $0.15 during trading on Tuesday, reaching $16.20. 359,343 shares of the stock were exchanged, compared to its average volume of 2,727,801. The stock has a 50 day simple moving average of $15.48 and a 200-day simple moving average of $17.62. 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 capitalization of $3.78 billion, a P/E ratio of -14.46 and a beta of 1.21. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Bank of America reduced their price target on Asana from $30.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, March 11th. Robert W. Baird dropped their price target on shares of Asana from $23.00 to $13.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. JPMorgan Chase & Co. cut their price target on shares of Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a report on Tuesday, March 11th. Scotiabank decreased their price objective on shares of Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a report on Tuesday, March 11th. Finally, Jefferies Financial Group cut their target price on Asana from $19.00 to $15.00 and set a "hold" rating on the stock in a 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average 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.