Trexquant Investment LP Acquires New Position in Asana, Inc. (NYSE:ASAN)

Trexquant Investment LP acquired a new stake in shares of Asana, Inc. (NYSE:ASAN) during the 4th quarter, Holdings Channel.com reports. The fund acquired 561,963 shares of the company’s stock, valued at approximately $11,391,000.

A number of other large investors also recently bought and sold shares of the company. Quantbot Technologies LP raised its position in shares of Asana by 157.7% during the 3rd quarter. Quantbot Technologies LP now owns 26,008 shares of the company’s stock valued at $301,000 after acquiring an additional 15,917 shares in the last quarter. FMR LLC increased its stake in Asana by 1,419.9% during the third quarter. FMR LLC now owns 24,029 shares of the company’s stock valued at $278,000 after purchasing an additional 22,448 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Asana by 20.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,481 shares of the company’s stock worth $237,000 after purchasing an additional 3,436 shares during the period. Paloma Partners Management Co bought a new position in shares of Asana in the 3rd quarter worth about $143,000. Finally, Atom Investors LP acquired a new position in shares of Asana in the 3rd quarter valued at about $232,000. Institutional investors own 26.21% of the company’s stock.

Asana Stock Up 5.1 %

ASAN opened at $16.09 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market capitalization of $3.75 billion, a PE ratio of -14.37 and a beta of 1.13. The stock’s fifty day moving average is $18.69 and its 200-day moving average is $17.02. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77.

Analyst Ratings Changes

ASAN has been the topic of a number of recent research reports. Scotiabank cut their target price on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a report on Tuesday, March 11th. JMP Securities set a $22.00 price objective on Asana in a research report on Tuesday, March 11th. JPMorgan Chase & Co. dropped their target price on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 11th. UBS Group reduced their price target on shares of Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, Bank of America dropped their price objective on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Two equities 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.com, the company currently has an average rating of “Hold” and a consensus price target of $15.67.

Insider Buying and Selling

In other Asana news, Director Justin Rosenstein sold 196,067 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $21.78, for a total value of $4,270,339.26. Following the transaction, the director now owns 1,651,242 shares of the company’s stock, valued at approximately $35,964,050.76. This represents a 10.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of Asana stock in a transaction dated Monday, March 31st. The shares were bought at an average cost of $14.41 per share, with a total value of $3,242,250.00. Following the completion of the purchase, the chief executive officer now owns 50,147,943 shares in the company, valued at approximately $722,631,858.63. This represents a 0.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 1,349,507 shares of company stock valued at $19,281,993 and have sold 739,842 shares valued at $15,155,503. 63.97% of the stock is owned by corporate insiders.

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.