Ameriprise Financial Inc. Acquires Shares of 17,358 Asana, Inc. (NYSE:ASAN)

Ameriprise Financial Inc. purchased a new position in Asana, Inc. (NYSE:ASAN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,358 shares of the company's stock, valued at approximately $352,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Voya Investment Management LLC increased its stake in shares of Asana by 8.1% during the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock worth $254,166,000 after purchasing an additional 937,726 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Asana in the fourth quarter worth $38,966,000. First Trust Advisors LP increased its position in Asana by 17.6% during the fourth quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock worth $35,350,000 after buying an additional 261,298 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its position in Asana by 0.5% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,377,704 shares of the company's stock worth $27,926,000 after buying an additional 7,269 shares during the last quarter. Finally, Paradice Investment Management LLC bought a new position in Asana during the fourth quarter valued at about $22,507,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Asana Stock Performance

Asana stock traded up $0.15 during mid-day trading on Friday, reaching $14.87. The company had a trading volume of 5,993,760 shares, compared to its average volume of 2,905,024. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of -13.28 and a beta of 1.23. The company has a 50 day moving average of $16.32 and a 200-day moving average of $18.26. 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 earnings results on Tuesday, June 3rd. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. The business 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 86.84% and a negative net margin of 36.17%. Asana's revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) earnings per share. On average, sell-side analysts expect that Asana, Inc. will post -1.09 EPS for the current fiscal year.

Insider Buying and Selling at Asana

In related news, COO Anne Raimondi sold 18,775 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $14.03, for a total value of $263,413.25. Following the transaction, the chief operating officer now owns 716,580 shares in the company, valued at $10,053,617.40. This trade represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dustin A. Moskovitz acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was purchased at an average price of $15.84 per share, with a total value of $792,000.00. Following the completion of the transaction, the chief executive officer now owns 51,398,436 shares of the company's stock, valued at approximately $814,151,226.24. This trade represents a 0.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 2,074,507 shares of company stock worth $30,025,743 over the last ninety days. Corporate insiders own 61.28% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on ASAN shares. Jefferies Financial Group increased their price objective on Asana from $15.00 to $17.00 and gave the company a "hold" rating in a report on Wednesday. Piper Sandler upped their target price on Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a research report on Wednesday. Bank of America lowered their price target on Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday. HSBC reissued a "reduce" rating and issued a $10.00 price target (down previously from $13.00) on shares of Asana in a research report on Wednesday. Finally, FBN Securities raised shares of Asana to a "strong-buy" rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $15.97.

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.