Teacher Retirement System of Texas Makes New Investment in Asana, Inc. (NYSE:ASAN)

Teacher Retirement System of Texas purchased a new position in shares of Asana, Inc. (NYSE:ASAN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 64,644 shares of the company’s stock, valued at approximately $1,310,000.

Several other large investors have also recently made changes to their positions in the business. Paradice Investment Management LLC bought a new position in Asana during the 4th quarter worth approximately $22,507,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Asana in the fourth quarter worth approximately $11,781,000. JPMorgan Chase & Co. increased its stake in shares of Asana by 105.6% in the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after buying an additional 427,576 shares during the period. Brooklyn FI LLC bought a new stake in Asana during the 4th quarter valued at $8,138,000. Finally, Edgestream Partners L.P. purchased a new stake in Asana during the 4th quarter valued at $2,547,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ASAN. UBS Group lowered their price objective on shares of Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Citigroup upped their price target on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. DA Davidson cut their price objective on Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. JPMorgan Chase & Co. reduced their target price on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 11th. Finally, JMP Securities set a $22.00 price target on Asana in a research note on Tuesday, March 11th. Two investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.67.

Insider Buying and Selling at Asana

In other Asana news, Director Justin Rosenstein sold 25,000 shares of the business’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 directly owns 922,309 shares of the company’s stock, valued at approximately $11,888,563.01. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction dated Monday, March 17th. The shares were bought at an average price of $14.02 per share, with a total value of $3,154,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 48,573,436 shares of the company’s stock, valued at approximately $680,999,572.72. This represents a 0.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 900,000 shares of company stock valued at $12,735,000 and sold 739,842 shares valued at $15,155,503. Insiders own 63.97% of the company’s stock.

Asana Trading Up 0.5 %

Shares of NYSE ASAN opened at $14.87 on Friday. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a 50-day moving average of $18.97 and a 200 day moving average of $16.90. The stock has a market cap of $3.40 billion, a P/E ratio of -13.27 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.