Townsquare Capital LLC Purchases New Holdings in Asana, Inc. (NYSE:ASAN)

Townsquare Capital LLC acquired a new position in shares of Asana, Inc. (NYSE:ASAN) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 13,243 shares of the company’s stock, valued at approximately $268,000.

A number of other hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new position in Asana during the 4th quarter valued at about $38,966,000. Paradice Investment Management LLC acquired a new position in Asana in the fourth quarter valued at approximately $22,507,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Asana in the fourth quarter valued at approximately $11,781,000. Trexquant Investment LP acquired a new stake in Asana during the 4th quarter worth $11,391,000. Finally, Renaissance Technologies LLC raised its position in shares of Asana by 377.5% during the 4th quarter. Renaissance Technologies LLC now owns 617,348 shares of the company’s stock valued at $12,514,000 after acquiring an additional 488,048 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ASAN. Jefferies Financial Group cut their target price on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, March 11th. DA Davidson cut their price target 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. Robert W. Baird reduced their price objective on shares of Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Scotiabank lowered their target price on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday, March 11th. Finally, Bank of America reduced their price target on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $15.60.

Asana Stock Performance

Shares of ASAN stock opened at $14.50 on Wednesday. The firm has a 50 day moving average of $16.48 and a 200-day moving average of $17.33. The company has a market cap of $3.38 billion, a price-to-earnings ratio of -12.94 and a beta of 1.23. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77.

Insider Activity

In other news, CEO Dustin A. Moskovitz acquired 225,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $12.91 per share, with a total value of $2,904,750.00. Following the acquisition, the chief executive officer now directly owns 48,123,436 shares of the company’s stock, valued at $621,273,558.76. The trade was a 0.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 2,047,309 shares of the company’s stock, valued at $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 bought 2,074,507 shares of company stock worth $30,025,743 and sold 739,842 shares worth $15,155,503. Corporate insiders own 63.97% of the company’s stock.

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.