Twin Tree Management LP Takes $457,000 Position in Asana, Inc. (NYSE:ASAN)

Twin Tree Management LP acquired a new stake in shares of Asana, Inc. (NYSE:ASAN) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 22,522 shares of the company’s stock, valued at approximately $457,000.

Other hedge funds have also recently modified their holdings of the company. KBC Group NV boosted its holdings in Asana by 52.1% in the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after buying an additional 1,211 shares during the period. Quest Partners LLC bought a new position in Asana in the 3rd quarter worth $43,000. Bogart Wealth LLC bought a new position in Asana in the 4th quarter worth $61,000. SBI Securities Co. Ltd. bought a new position in Asana in the 4th quarter worth $82,000. Finally, Paloma Partners Management Co bought a new position in shares of Asana during the 3rd quarter valued at about $143,000. Institutional investors own 26.21% of the company’s stock.

Analyst Ratings Changes

ASAN has been the subject of several research reports. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective for the company in a report on Friday, December 6th. Bank of America dropped their price objective on shares of Asana from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. JMP Securities set a $22.00 price objective on shares of Asana in a report on Tuesday, March 11th. DA Davidson decreased their target price on shares of Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Finally, Morgan Stanley decreased their target price 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.67.

Asana Stock Performance

Asana stock opened at $14.00 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The firm has a market capitalization of $3.20 billion, a P/E ratio of -12.50 and a beta of 1.13. The company’s 50-day moving average is $19.71 and its 200 day moving average is $16.84.

Insider Transactions at Asana

In related news, CEO Dustin A. Moskovitz bought 225,000 shares of Asana stock in a transaction dated Monday, March 17th. The shares were acquired at an average cost of $14.02 per share, with a total value of $3,154,500.00. Following the completion of the transaction, the chief executive officer now owns 48,573,436 shares in the company, valued at $680,999,572.72. The trade was a 0.47 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Justin Rosenstein sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the transaction, the director now directly owns 922,309 shares in the company, valued at approximately $11,888,563.01. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 748,300 shares of company stock valued at $15,483,318. 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.