Marshall Wace LLP Makes New Investment in Asana, Inc. (NYSE:ASAN)

Marshall Wace LLP bought a new position in shares of Asana, Inc. (NYSE:ASAN) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 84,529 shares of the company’s stock, valued at approximately $1,713,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ASAN. Bogart Wealth LLC bought a new stake in Asana in the 4th quarter valued at about $61,000. SBI Securities Co. Ltd. bought a new stake in Asana in the 4th quarter valued at about $82,000. KBC Group NV increased its position in 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 buying an additional 2,078 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in Asana in the 4th quarter valued at about $163,000. Finally, Empirical Asset Management LLC bought a new stake in Asana in the 4th quarter valued at about $218,000. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Stock Performance

Shares of NYSE ASAN opened at $15.97 on Tuesday. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of -14.26 and a beta of 1.23. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $27.77. The firm has a 50 day moving average of $15.89 and a 200 day moving average of $17.48. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ASAN shares. Jefferies Financial Group decreased their target price on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, March 11th. Robert W. Baird decreased their price objective on Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price objective on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Tuesday, March 11th. DA Davidson decreased their price objective on Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, Scotiabank decreased their price objective on Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Asana currently has a consensus rating of “Hold” and a consensus target price of $15.53.

Insider Transactions at Asana

In related news, COO Anne Raimondi sold 18,775 shares of Asana stock in a transaction dated 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. This trade represents a 2.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Justin Rosenstein sold 150,000 shares of Asana stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $19.76, for a total value of $2,964,000.00. Following the completion of the transaction, the director now owns 1,097,309 shares of the company’s stock, valued at approximately $21,682,825.84. This represents a 12.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders bought 2,074,507 shares of company stock valued at $30,025,743 and sold 389,842 shares valued at $7,820,003. Corporate insiders own 63.97% of the company’s stock.

Asana 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.