Arrowstreet Capital Limited Partnership Invests $38.97 Million in Asana, Inc. (NYSE:ASAN)

Arrowstreet Capital Limited Partnership bought a new stake in Asana, Inc. (NYSE:ASAN) during the 4th quarter, HoldingsChannel reports. The firm bought 1,922,364 shares of the company’s stock, valued at approximately $38,966,000.

Other institutional investors have also bought and sold shares of the company. Bogart Wealth LLC acquired a new position in shares of Asana in the 4th quarter valued at about $61,000. SBI Securities Co. Ltd. bought a new stake in Asana in the fourth quarter worth approximately $82,000. KBC Group NV lifted its stake in Asana by 58.8% in the fourth quarter. KBC Group NV now owns 5,612 shares of the company’s stock valued at $114,000 after buying an additional 2,078 shares during the period. Paloma Partners Management Co bought a new position in shares of Asana during the 3rd quarter worth approximately $143,000. Finally, TruNorth Capital Management LLC acquired a new stake in shares of Asana during the 4th quarter worth approximately $163,000. Institutional investors own 26.21% of the company’s stock.

Insiders Place Their Bets

In other Asana news, Director Justin Rosenstein sold 200,000 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $21.67, for a total value of $4,334,000.00. Following the transaction, the director now directly owns 1,847,309 shares in the company, valued at $40,031,186.03. The trade was a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were bought at an average price of $14.02 per share, with a total value of $3,154,500.00. Following the purchase, the chief executive officer now owns 48,573,436 shares in the company, valued at $680,999,572.72. The trade was a 0.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 1,349,507 shares of company stock valued at $19,281,993 and have sold 739,842 shares valued at $15,155,503. Insiders own 63.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ASAN. Bank of America dropped their target price 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. JMP Securities set a $22.00 price objective on shares of Asana in a research report on Tuesday, March 11th. DA Davidson reduced their target price on Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Jefferies Financial Group dropped their price target on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, March 11th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $10.00 price objective on shares of Asana in a research note on Friday, December 6th. Two equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.67.

Asana Price Performance

Shares of NYSE ASAN opened at $16.09 on Thursday. The company has a market capitalization of $3.75 billion, a PE ratio of -14.37 and a beta of 1.13. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average price is $18.69 and its 200-day moving average price is $17.02. Asana, Inc. has a twelve month low of $11.05 and a twelve month 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.