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

Ameriprise Financial Inc. acquired a new position in shares of Asana, Inc. (NYSE:ASAN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,358 shares of the company's stock, valued at approximately $352,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new position in Asana during the fourth quarter worth $29,000. Bogart Wealth LLC acquired a new position in shares of Asana in the fourth quarter worth $61,000. SBI Securities Co. Ltd. acquired a new position in shares of Asana in the fourth quarter worth $82,000. KBC Group NV raised its holdings in shares of Asana by 58.8% in the fourth quarter. KBC Group NV now owns 5,612 shares of the company's stock worth $114,000 after acquiring an additional 2,078 shares during the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Asana in the fourth quarter worth $135,000. 26.21% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Asana

In other Asana news, CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $12.91 per share, with a total value of $2,904,750.00. Following the completion of the acquisition, the chief executive officer now owns 48,123,436 shares of the company's stock, valued at approximately $621,273,558.76. This trade represents a 0.47% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Anne Raimondi sold 18,775 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.03, for a total value of $263,413.25. Following the completion of the transaction, the chief operating officer now directly owns 716,580 shares of the company's stock, valued at $10,053,617.40. This represents a 2.55% decrease in their position. The disclosure for this sale can be found here. Insiders purchased 2,074,507 shares of company stock valued at $30,025,743 over the last quarter. Company insiders own 61.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ASAN. FBN Securities raised Asana to a "strong-buy" rating in a report on Wednesday. DA Davidson cut their price target on Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Morgan Stanley cut their price target on Asana from $14.00 to $13.00 and set an "underweight" rating for the company in a report on Wednesday. Jefferies Financial Group boosted their price target on Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $15.97.

Asana Trading Up 1.0%

ASAN stock traded up $0.15 during trading on Friday, reaching $14.87. 5,995,751 shares of the stock traded hands, compared to its average volume of 2,915,618. The business's 50 day moving average price is $16.31 and its 200-day moving average price is $18.33. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $3.47 billion, a PE ratio of -13.28 and a beta of 1.23.

Asana (NYSE:ASAN - Get Free Report) last posted its quarterly 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 86.84% and a negative net margin of 36.17%. The firm had revenue of $187.63 million during the quarter, compared to the consensus estimate of $185.40 million. During the same quarter in the previous year, the business earned ($0.06) earnings per share. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Asana, Inc. will post -1.09 earnings per share for the current year.

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.