Asana, Inc. (NYSE:ASAN) Shares Bought by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in Asana by 187.6%, holding 43,290 shares valued at $638,000 as of the end of the first quarter.
• Asana's recent earnings report showed a profit of $0.05 per share, beating expectations and showing an 8.6% increase in revenue year-over-year.
• Insider trading activity included Director Justin Rosenstein selling over 966,000 shares while CEO Dustin A. Moskovitz bought 225,000 shares, reflecting varied confidence among company leadership.

Allianz Asset Management GmbH boosted its holdings in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 187.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,290 shares of the company's stock after buying an additional 28,239 shares during the period. Allianz Asset Management GmbH's holdings in Asana were worth $638,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ASAN. Voya Investment Management LLC grew its position in Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after buying an additional 937,726 shares during the period. Voloridge Investment Management LLC grew its position in Asana by 25.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock valued at $43,574,000 after acquiring an additional 438,057 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Asana by 17.6% in the fourth quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock worth $35,350,000 after purchasing an additional 261,298 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of Asana by 288.1% in the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock worth $28,481,000 after purchasing an additional 1,043,047 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its holdings in Asana by 0.5% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,377,704 shares of the company's stock valued at $27,926,000 after acquiring an additional 7,269 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company's stock.

Analyst Upgrades and Downgrades

ASAN has been the subject of a number of recent analyst reports. Wall Street Zen raised Asana from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. KeyCorp reaffirmed a "sector weight" rating on shares of Asana in a report on Wednesday, June 4th. FBN Securities upgraded Asana to a "strong-buy" rating in a research report on Wednesday, June 4th. Jefferies Financial Group raised their price target on Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a research report on Wednesday, June 4th. Finally, Morgan Stanley reduced their target price on Asana from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $15.97.

Asana Stock Performance

NYSE ASAN traded up $0.34 on Monday, reaching $14.35. The stock had a trading volume of 2,553,699 shares, compared to its average volume of 3,526,554. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.47 and a current ratio of 1.47. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $27.77. The business's 50-day moving average price is $14.71 and its 200 day moving average price is $16.62. The stock has a market cap of $3.38 billion, a P/E ratio of -14.35 and a beta of 1.14.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 EPS for the quarter, topping the consensus estimate 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 business had revenue of $187.63 million during the quarter, compared to analysts' expectations of $185.40 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The company's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts expect that Asana, Inc. will post -1.09 earnings per share for the current year.

Insider Activity at Asana

In other Asana news, Director Dustin A. Moskovitz acquired 225,000 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was purchased at an average price of $15.24 per share, for a total transaction of $3,429,000.00. Following the completion of the transaction, the director owned 54,855,999 shares of the company's stock, valued at $836,005,424.76. The trade was a 0.41% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justin Rosenstein sold 517,635 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $15.04, for a total value of $7,785,230.40. Following the completion of the transaction, the director owned 3,210,398 shares of the company's stock, valued at $48,284,385.92. The trade was a 13.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 2,557,563 shares of company stock valued at $36,829,904 and have sold 3,033,130 shares valued at $45,552,218. 61.28% of the stock is owned by corporate insiders.

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.