78,759 Shares in Asana, Inc. $ASAN Purchased by Landscape Capital Management L.L.C.

Key Points

• Landscape Capital Management L.L.C. purchased a new stake in Asana, Inc., acquiring 78,759 shares valued at approximately $1,148,000.
• Asana reported $0.05 earnings per share (EPS) for the most recent quarter, exceeding analyst estimates and reflecting an 8.6% year-over-year revenue increase.
• Insiders have actively traded Asana shares, with Director Dustin A. Moskovitz acquiring 122,470 shares recently, bringing his total ownership to approximately $782 million.

Landscape Capital Management L.L.C. purchased a new position in shares of Asana, Inc. (NYSE:ASAN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 78,759 shares of the company's stock, valued at approximately $1,148,000.

Several other hedge funds have also recently modified their holdings of ASAN. Vident Advisory LLC acquired a new stake in Asana in the 4th quarter worth approximately $460,000. Vanguard Group Inc. raised its holdings in shares of Asana by 4.7% in the first quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock worth $155,261,000 after buying an additional 475,100 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Asana by 6.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 742,272 shares of the company's stock worth $10,815,000 after buying an additional 47,480 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of Asana during the fourth quarter valued at $352,000. Finally, Russell Investments Group Ltd. increased its position in shares of Asana by 146.6% in the 1st quarter. Russell Investments Group Ltd. now owns 117,982 shares of the company's stock valued at $1,727,000 after acquiring an additional 70,145 shares during the period. Institutional investors and hedge funds own 26.21% of the company's stock.

Asana Price Performance

ASAN stock traded up $0.35 during mid-day trading on Wednesday, reaching $14.27. 5,413,218 shares of the company's stock were exchanged, compared to its average volume of 3,448,464. 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 12-month low of $11.05 and a 12-month high of $27.77. The stock's 50 day moving average is $14.18 and its 200 day moving average is $15.52. The company has a market cap of $3.36 billion, a price-to-earnings ratio of -14.27 and a beta of 1.14.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on ASAN. Robert W. Baird raised their target price on Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Royal Bank Of Canada restated an "underperform" rating and issued a $10.00 price objective on shares of Asana in a research note on Wednesday, June 4th. Bank of America dropped their target price on Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, June 4th. JPMorgan Chase & Co. increased their price target on shares of Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a report on Wednesday, June 4th. Finally, Scotiabank upped their price objective on shares of Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $15.97.

Insiders Place Their Bets

In related news, CEO Dustin A. Moskovitz bought 225,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were acquired at an average price of $13.58 per share, for a total transaction of $3,055,500.00. Following the completion of the transaction, the chief executive officer directly owned 51,711,191 shares in the company, valued at $702,237,973.78. This trade represents a 0.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Justin Rosenstein sold 966,576 shares of the company's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $15.04, for a total transaction of $14,537,303.04. Following the transaction, the director owned 4,797,091 shares of the company's stock, valued at approximately $72,148,248.64. This trade represents a 16.77% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 5,375,000 shares of company stock valued at $75,920,894 and have sold 3,033,130 shares valued at $45,552,218. Corporate insiders own 61.28% of the company's stock.

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.