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

Twin Tree Management LP acquired a new stake in Asana, Inc. (NYSE:ASAN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 22,522 shares of the company’s stock, valued at approximately $457,000.

Other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Asana in the 4th quarter valued at $11,781,000. Edgestream Partners L.P. bought a new position in Asana in the fourth quarter valued at about $2,547,000. Raymond James Financial Inc. bought a new position in Asana in the fourth quarter valued at about $1,352,000. Charles Schwab Investment Management Inc. lifted its stake in Asana by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company’s stock valued at $14,083,000 after buying an additional 48,831 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Asana in the fourth quarter valued at about $82,000. 26.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ASAN. Citigroup raised their price target on Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Scotiabank decreased their price target 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. DA Davidson reduced their target price on 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 price target on shares of Asana in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. reduced their price target on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.67.

Asana Trading Down 0.5 %

NYSE ASAN opened at $14.00 on Wednesday. The stock’s 50-day simple moving average is $19.71 and its two-hundred day simple moving average is $16.84. Asana, Inc. has a twelve month low of $11.05 and a twelve month 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. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of -12.50 and a beta of 1.13.

Insider Transactions at Asana

In other news, COO Anne Raimondi sold 27,233 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.71, for a total value of $591,228.43. Following the sale, the chief operating officer now directly owns 733,855 shares of the company’s stock, valued at $15,931,992.05. The trade was a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Justin Rosenstein sold 150,000 shares of the business’s stock in a transaction that occurred on 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 owns 2,047,309 shares of the company’s stock, valued at approximately $40,966,653.09. The trade was a 6.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 748,300 shares of company stock worth $15,483,318. Company insiders own 63.97% of the company’s stock.

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.