Teacher Retirement System of Texas Purchases New Position in Asana, Inc. (NYSE:ASAN)

Teacher Retirement System of Texas purchased a new stake in Asana, Inc. (NYSE:ASAN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 64,644 shares of the company's stock, valued at approximately $1,310,000.

A number of other hedge funds have also bought and sold shares of ASAN. Quest Partners LLC acquired a new stake in shares of Asana during the 3rd quarter worth $43,000. Bogart Wealth LLC acquired a new position in Asana during the fourth quarter valued at approximately $61,000. SBI Securities Co. Ltd. bought a new stake in Asana during the fourth quarter worth $82,000. KBC Group NV boosted its holdings in shares of Asana by 58.8% in the 4th quarter. KBC Group NV now owns 5,612 shares of the company's stock valued at $114,000 after purchasing an additional 2,078 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Asana in the 3rd quarter valued at $143,000. 26.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ASAN has been the topic of several research analyst reports. Scotiabank reduced their price objective on Asana from $18.00 to $12.00 and set a "sector perform" rating on the stock in a research note on Tuesday, March 11th. KeyCorp upgraded shares of Asana from an "underweight" rating to a "sector weight" rating and set a $10.00 price target on the stock in a research note on Friday, December 6th. JPMorgan Chase & Co. lowered 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. JMP Securities set a $22.00 price objective on Asana in a research report on Tuesday, March 11th. Finally, DA Davidson dropped their price objective on shares of Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $15.67.

Remove Ads

Asana Trading Up 5.1 %

NYSE ASAN traded up $0.78 during trading hours on Wednesday, hitting $16.09. 3,130,974 shares of the company's stock were exchanged, compared to its average volume of 2,669,393. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of -14.37 and a beta of 1.13. The stock has a 50-day simple moving average of $18.69 and a 200 day simple moving average of $17.02. 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 1-year low of $11.05 and a 1-year high of $27.77.

Insider Activity

In other news, CEO Dustin A. Moskovitz purchased 225,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $12.91 per share, with a total value of $2,904,750.00. Following the purchase, the chief executive officer now owns 48,123,436 shares in the company, valued at $621,273,558.76. This represents a 0.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Anne Raimondi sold 18,775 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total value of $263,413.25. Following the completion of the transaction, the chief operating officer now owns 716,580 shares in the company, valued at approximately $10,053,617.40. The trade was a 2.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 1,349,507 shares of company stock worth $19,281,993 and sold 739,842 shares worth $15,155,503. 63.97% of the stock is currently owned by company insiders.

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.