Twin Tree Management LP Takes Position in Asana, Inc. (NYSE:ASAN)

Twin Tree Management LP acquired a new position in shares of Asana, Inc. (NYSE:ASAN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 22,522 shares of the company's stock, valued at approximately $457,000.

Other hedge funds also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Asana in the 4th quarter valued at about $11,781,000. Edgestream Partners L.P. acquired a new stake in Asana in the fourth quarter valued at approximately $2,547,000. Raymond James Financial Inc. bought a new stake in shares of Asana during the fourth quarter valued at approximately $1,352,000. Charles Schwab Investment Management Inc. raised its position in shares of Asana by 7.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company's stock worth $14,083,000 after purchasing an additional 48,831 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of Asana in the 4th quarter worth $82,000. Institutional investors own 26.21% of the company's stock.

Wall Street Analyst Weigh In

ASAN has been the subject of a number of recent research reports. DA Davidson decreased their price target on shares of Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Royal Bank of Canada restated an "underperform" rating and issued a $10.00 target price on shares of Asana in a report on Friday, December 6th. Morgan Stanley dropped their price target on shares of Asana from $18.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 12th. Citigroup boosted their price objective on Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Finally, JMP Securities set a $22.00 target price on Asana in a 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 stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $15.67.

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Insiders Place Their Bets

In other Asana news, CEO Dustin A. Moskovitz purchased 225,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were purchased at an average price of $14.34 per share, with a total value of $3,226,500.00. Following the acquisition, the chief executive officer now directly owns 49,023,436 shares in the company, valued at approximately $702,996,072.24. The trade was a 0.46 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justin Rosenstein sold 150,000 shares of Asana stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total value of $3,001,500.00. Following the sale, the director now owns 2,047,309 shares of the company's stock, valued at approximately $40,966,653.09. This trade represents a 6.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have bought 675,000 shares of company stock worth $9,285,750 and have sold 721,067 shares worth $14,892,089. Corporate insiders own 63.97% of the company's stock.

Asana Price Performance

Shares of ASAN stock traded up $0.44 during trading hours on Friday, reaching $14.44. The stock had a trading volume of 4,062,938 shares, compared to its average volume of 2,573,789. The stock's fifty day simple moving average is $19.39 and its 200 day simple moving average is $16.81. The firm has a market capitalization of $3.30 billion, a PE ratio of -12.89 and a beta of 1.13. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. 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 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.