Headlands Technologies LLC Buys New Stake in Asana, Inc. (NYSE:ASAN)

Headlands Technologies LLC purchased a new position in Asana, Inc. (NYSE:ASAN) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 37,341 shares of the company’s stock, valued at approximately $757,000.

Other large investors have also made changes to their positions in the company. Quantbot Technologies LP grew its stake in Asana by 157.7% during the 3rd quarter. Quantbot Technologies LP now owns 26,008 shares of the company’s stock worth $301,000 after buying an additional 15,917 shares during the last quarter. FMR LLC boosted its holdings in Asana by 1,419.9% in the third quarter. FMR LLC now owns 24,029 shares of the company’s stock worth $278,000 after acquiring an additional 22,448 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 acquiring an additional 3,436 shares during the last quarter. Paloma Partners Management Co acquired a new position in shares of Asana during the third quarter valued at about $143,000. Finally, Atom Investors LP purchased a new position in shares of Asana in the 3rd quarter valued at approximately $232,000. 26.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Asana

In related news, Director Justin Rosenstein sold 150,000 shares of the business’s stock in a transaction on 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Anne Raimondi sold 18,775 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $14.03, for a total transaction of $263,413.25. Following the transaction, the chief operating officer now directly owns 716,580 shares in the company, valued at approximately $10,053,617.40. The trade was a 2.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 1,349,507 shares of company stock worth $19,281,993 and sold 739,842 shares worth $15,155,503. 63.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ASAN has been the topic of several research analyst reports. DA Davidson dropped 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. Morgan Stanley cut their target price on Asana from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Jefferies Financial Group lowered their price target on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, March 11th. JMP Securities set a $22.00 price objective on Asana in a report on Tuesday, March 11th. Finally, Bank of America decreased their target price on Asana from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Asana presently has an average rating of “Hold” and a consensus price target of $15.67.

Asana Trading Up 5.1 %

Shares of Asana stock opened at $16.09 on Thursday. The firm has a 50-day simple moving average of $18.69 and a two-hundred day simple moving average of $17.02. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The company has a market cap of $3.75 billion, a P/E ratio of -14.37 and a beta of 1.13.

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.