5 Stocks Hedge Fund Legend Donald Sussman is Buying

2. Asana Inc. (NYSE:ASAN)

Donald Sussman’s firm opened a 71,165-share stake in Asana Inc. (NYSE:ASAN) during Q3, which was valued at $7.39 million on September 30. Other hedge funds were piling into shares of the work platform company as well, as there was a 50% surge in ownership of the stock during Q3, a quarter during which ASAN shares jumped by over 50%.

After gaining over 400% in the 13 months following its October 2020 IPO, Asana Inc. (NYSE:ASAN) shares have tumbled by over 50% since November 19. That dip prompted CEO Dustin Moskovitz to purchase 1.25 million shares for over $97 million in late December, a big vote of confidence in Asana Inc. (NYSE:ASAN) from the man in charge of overseeing it and who likely knows its future prospects better than anyone.