Trexquant Investment LP Invests $11.39 Million in Asana, Inc. (NYSE:ASAN)

Trexquant Investment LP bought a new stake in Asana, Inc. (NYSE:ASAN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 561,963 shares of the company’s stock, valued at approximately $11,391,000. Trexquant Investment LP owned approximately 0.25% of Asana as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of ASAN. JPMorgan Chase & Co. boosted its stake in shares of Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after acquiring an additional 427,576 shares during the last quarter. XTX Topco Ltd purchased a new position in Asana in the 3rd quarter valued at about $538,000. Neo Ivy Capital Management boosted its stake in shares of Asana by 195.1% during the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock worth $1,964,000 after purchasing an additional 112,038 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Asana during the fourth quarter worth about $2,349,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Asana by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company’s stock valued at $14,083,000 after buying an additional 48,831 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Insider Activity

In other Asana news, CEO Dustin A. Moskovitz purchased 225,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $12.91 per share, for a total transaction of $2,904,750.00. Following the completion of the purchase, the chief executive officer now owns 48,123,436 shares in the company, valued at $621,273,558.76. The trade was a 0.47 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justin Rosenstein sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $21.67, for a total value of $4,334,000.00. Following the sale, the director now owns 1,847,309 shares of the company’s stock, valued at approximately $40,031,186.03. This trade represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 1,349,507 shares of company stock worth $19,281,993 and have sold 739,842 shares worth $15,155,503. Insiders own 63.97% of the company’s stock.

Asana Price Performance

ASAN stock opened at $16.09 on Thursday. The firm has a market cap of $3.75 billion, a P/E ratio of -14.37 and a beta of 1.13. 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 1 year low of $11.05 and a 1 year high of $27.77. The stock has a 50-day simple moving average of $18.69 and a 200-day simple moving average of $17.02.

Analyst Upgrades and Downgrades

Several research firms have commented on ASAN. Bank of America lowered their target price on shares of Asana from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Scotiabank dropped their target price on Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price target 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 dropped their price objective on shares of Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. Finally, Robert W. Baird decreased their target price on shares of Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.67.

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.