Headlands Technologies LLC Purchases Shares of 37,341 Asana, Inc. (NYSE:ASAN)

Headlands Technologies LLC acquired a new position in Asana, Inc. (NYSE:ASAN) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 37,341 shares of the company’s stock, valued at approximately $757,000.

Other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP grew its stake in Asana by 157.7% during the third 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 grew its position in shares of 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Asana by 20.2% in 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 last quarter. Paloma Partners Management Co purchased a new stake in shares of Asana in the third quarter worth about $143,000. Finally, Atom Investors LP bought a new stake in Asana in the 3rd quarter worth approximately $232,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Insider Transactions at Asana

In other Asana news, CEO Dustin A. Moskovitz acquired 225,000 shares of the business’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now directly owns 50,147,943 shares in the company, valued at $722,631,858.63. This represents a 0.45 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justin Rosenstein sold 25,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the sale, the director now owns 922,309 shares of the company’s stock, valued at approximately $11,888,563.01. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 1,349,507 shares of company stock valued at $19,281,993 and have sold 739,842 shares valued at $15,155,503. Corporate insiders own 63.97% of the company’s stock.

Asana Trading Up 5.1 %

ASAN stock opened at $16.09 on Thursday. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The firm’s 50-day moving average is $18.69 and its 200 day moving average is $17.02. The company has a market capitalization of $3.75 billion, a PE ratio of -14.37 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Analyst Upgrades and Downgrades

ASAN has been the subject of a number of recent research reports. UBS Group cut their target price 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. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 price target on shares of Asana in a report on Friday, December 6th. JPMorgan Chase & Co. reduced their price objective on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 11th. Jefferies Financial Group decreased their price objective on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, March 11th. Finally, Scotiabank dropped their target price 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 equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Asana has an average rating of “Hold” and an average target price of $15.67.

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.