Asana, Inc. (NYSE:ASAN) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 377.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 617,348 shares of the company's stock after purchasing an additional 488,048 shares during the period. Renaissance Technologies LLC owned 0.27% of Asana worth $12,514,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ASAN. Bogart Wealth LLC acquired a new position in Asana during the fourth quarter valued at $61,000. SBI Securities Co. Ltd. purchased a new stake in Asana during the fourth quarter worth $82,000. KBC Group NV grew its position in Asana by 58.8% during 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. TruNorth Capital Management LLC purchased a new position in Asana in the fourth quarter valued at $163,000. Finally, Empirical Asset Management LLC acquired a new position in shares of Asana in the fourth quarter worth about $218,000. Institutional investors and hedge funds own 26.21% of the company's stock.

Asana Stock Down 3.6 %

Asana stock traded down $0.53 during midday trading on Monday, reaching $14.31. The company's stock had a trading volume of 233,466 shares, compared to its average volume of 2,738,705. The business has a 50-day simple moving average of $16.85 and a 200-day simple moving average of $17.33. The company has a market cap of $3.33 billion, a P/E ratio of -12.80 and a beta of 1.23. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ASAN. Bank of America cut their price target on Asana from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. reduced their price objective on shares of Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a research report on Tuesday, March 11th. Jefferies Financial Group dropped their target price on shares of Asana from $19.00 to $15.00 and set a "hold" rating on the stock in a research report on Tuesday, March 11th. Robert W. Baird dropped their price target on Asana from $23.00 to $13.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, Morgan Stanley decreased their price objective on Asana from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $15.60.

Insider Buying and Selling

In other news, CEO Dustin A. Moskovitz bought 50,000 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were acquired at an average price of $15.84 per share, for a total transaction of $792,000.00. Following the completion of the transaction, the chief executive officer now owns 51,398,436 shares of the company's stock, valued at approximately $814,151,226.24. This trade represents a 0.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Anne Raimondi sold 18,775 shares of the company's stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 716,580 shares of the company's stock, valued at approximately $10,053,617.40. This represents a 2.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 2,074,507 shares of company stock worth $30,025,743 and sold 739,842 shares worth $15,155,503. 63.97% of the stock is owned by company insiders.

Asana 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.