Headlands Technologies LLC Invests $757,000 in Asana, Inc. (NYSE:ASAN)

Headlands Technologies LLC purchased a new position in shares of Asana, Inc. (NYSE:ASAN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 37,341 shares of the company's stock, valued at approximately $757,000.

Other hedge funds have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new position in Asana in the 4th quarter valued at $38,966,000. Geode Capital Management LLC raised its stake in Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company's stock valued at $21,605,000 after purchasing an additional 12,055 shares in the last quarter. Paradice Investment Management LLC bought a new stake in Asana during the fourth quarter worth about $22,507,000. JPMorgan Chase & Co. grew its stake in Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company's stock worth $9,650,000 after buying an additional 427,576 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Asana by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 805,649 shares of the company's stock valued at $16,331,000 after buying an additional 11,896 shares during the period. 26.21% of the stock is owned by institutional investors.

Insider Transactions at Asana

In other news, Director Justin Rosenstein sold 150,000 shares of the firm's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the completion of the transaction, the director now directly owns 2,047,309 shares in the company, valued at $40,966,653.09. This trade represents a 6.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dustin A. Moskovitz bought 225,000 shares of Asana stock in a transaction that occurred on Monday, March 31st. The stock was bought at an average price of $14.41 per share, for a total transaction of $3,242,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 50,147,943 shares of the company's stock, valued at $722,631,858.63. The trade was a 0.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 1,349,507 shares of company stock worth $19,281,993 and have sold 739,842 shares worth $15,155,503. 63.97% of the stock is owned by company insiders.

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Analyst Ratings Changes

Several analysts recently issued reports on the stock. UBS Group reduced their price target on shares of Asana from $18.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Jefferies Financial Group cut their target price on Asana from $19.00 to $15.00 and set a "hold" rating for the company in a research note on Tuesday, March 11th. DA Davidson dropped their price objective on Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Citigroup raised their price objective 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 lowered their target price on Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a research note on Tuesday, March 11th. Two research 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 presently has an average rating of "Hold" and an average price target of $15.67.

Asana Trading Down 3.3 %

NYSE:ASAN traded down $0.47 during mid-day trading on Monday, hitting $13.69. 2,081,594 shares of the company's stock were exchanged, compared to its average volume of 2,683,782. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The company has a 50 day simple moving average of $18.46 and a 200-day simple moving average of $17.08. The firm has a market capitalization of $3.19 billion, a P/E ratio of -12.13 and a beta of 1.23.

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.