Arrowstreet Capital Limited Partnership Purchases Shares of 1,922,364 Asana, Inc. (NYSE:ASAN)

Arrowstreet Capital Limited Partnership purchased a new position in Asana, Inc. (NYSE:ASAN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,922,364 shares of the company's stock, valued at approximately $38,966,000. Arrowstreet Capital Limited Partnership owned 0.84% of Asana as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company's stock valued at $9,650,000 after purchasing an additional 427,576 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Asana in the 3rd quarter worth approximately $538,000. Neo Ivy Capital Management increased its position in Asana by 195.1% during the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company's stock valued at $1,964,000 after buying an additional 112,038 shares in the last quarter. Virtu Financial LLC purchased a new position in Asana during the fourth quarter valued at $2,349,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Asana by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company's stock worth $14,083,000 after acquiring an additional 48,831 shares in the last quarter. Institutional investors own 26.21% of the company's stock.

Asana Stock Performance

Asana stock traded down $0.45 during mid-day trading on Monday, reaching $13.71. 5,107,399 shares of the stock traded hands, compared to its average volume of 2,695,533. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $27.77. The business's 50-day moving average is $18.33 and its 200-day moving average is $17.09. 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 stock has a market capitalization of $3.19 billion, a PE ratio of -12.24 and a beta of 1.23.

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Insider Buying and Selling at Asana

In related news, CEO Dustin A. Moskovitz bought 225,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average cost of $14.02 per share, with a total value of $3,154,500.00. Following the acquisition, the chief executive officer now owns 48,573,436 shares in the company, valued at $680,999,572.72. This trade represents a 0.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justin Rosenstein sold 200,000 shares of Asana stock in a transaction on 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 owns 1,847,309 shares in the company, valued at $40,031,186.03. This trade represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 1,799,507 shares of company stock worth $25,714,743 and sold 739,842 shares worth $15,155,503. Corporate insiders own 63.97% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ASAN shares. Citigroup raised their price target on Asana from $16.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, January 16th. Piper Sandler decreased their target price on shares of Asana from $27.00 to $18.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Robert W. Baird dropped their target price 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. Bank of America reduced their price target on shares of Asana from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $15.67.

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.