54,623 Shares in Asana, Inc. (NYSE:ASAN) Purchased by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd acquired 54,623 shares of Asana, Inc. (NYSE:ASAN), valued at approximately $796,000, indicating growing institutional interest in the company.
• Asana reported $0.05 earnings per share (EPS) for the latest quarter, surpassing estimates and showcasing an 8.6% year-over-year revenue increase to $187.63 million.
• Analysts have mixed ratings on Asana, with the consensus target price now set at $15.97, reflecting a range of "sell," "hold," and "buy" recommendations.

Y Intercept Hong Kong Ltd bought a new stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 54,623 shares of the company's stock, valued at approximately $796,000.

Several other institutional investors have also added to or reduced their stakes in the business. Voya Investment Management LLC boosted its stake in Asana by 8.1% during the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after purchasing an additional 937,726 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in Asana by 25.6% during the 4th quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock valued at $43,574,000 after purchasing an additional 438,057 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Asana during the 4th quarter valued at $38,966,000. First Trust Advisors LP boosted its stake in Asana by 17.6% during the 4th quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock valued at $35,350,000 after purchasing an additional 261,298 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in Asana by 288.1% during the 4th quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock valued at $28,481,000 after purchasing an additional 1,043,047 shares during the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ASAN has been the topic of several research analyst reports. Scotiabank increased their price target on Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Wall Street Zen raised Asana from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Morgan Stanley lowered their price target on Asana from $14.00 to $13.00 and set an "underweight" rating on the stock in a report on Wednesday, June 4th. JMP Securities reissued a "market outperform" rating and set a $22.00 price target on shares of Asana in a report on Wednesday, June 4th. Finally, Jefferies Financial Group raised their target price on Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a report on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $15.97.

Insider Transactions at Asana

In related news, Director Justin Rosenstein sold 966,576 shares of Asana stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $15.04, for a total value of $14,537,303.04. Following the completion of the transaction, the director owned 4,797,091 shares in the company, valued at approximately $72,148,248.64. This trade represents a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was bought at an average price of $13.58 per share, with a total value of $3,055,500.00. Following the transaction, the chief executive officer owned 51,711,191 shares of the company's stock, valued at $702,237,973.78. This represents a 0.44% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 2,332,563 shares of company stock valued at $33,400,904 and have sold 2,515,495 shares valued at $37,766,987. Company insiders own 61.28% of the company's stock.

Asana Price Performance

Shares of Asana stock traded up $0.04 during trading on Tuesday, reaching $15.07. 2,908,777 shares of the stock traded hands, compared to its average volume of 3,405,479. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of -15.08 and a beta of 1.13. The business has a fifty day simple moving average of $14.92 and a two-hundred day simple moving average of $16.75. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. The firm had revenue of $187.63 million during the quarter, compared to analyst estimates of $185.40 million. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) earnings per share. Sell-side analysts expect that Asana, Inc. will post -1.09 EPS for the current year.

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.