Asana, Inc. (NYSE:ASAN) Holdings Lowered by Edgestream Partners L.P.

Edgestream Partners L.P. cut its stake in Asana, Inc. (NYSE:ASAN - Free Report) by 85.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,358 shares of the company's stock after selling 107,279 shares during the period. Edgestream Partners L.P.'s holdings in Asana were worth $267,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vise Technologies Inc. lifted its position in Asana by 6.5% in the fourth quarter. Vise Technologies Inc. now owns 15,809 shares of the company's stock worth $320,000 after purchasing an additional 959 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Asana by 3.1% in the first quarter. SG Americas Securities LLC now owns 32,460 shares of the company's stock valued at $473,000 after buying an additional 974 shares during the period. Quarry LP bought a new position in Asana during the fourth quarter valued at about $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Asana by 5.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,218 shares of the company's stock valued at $937,000 after buying an additional 2,538 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Asana by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 49,483 shares of the company's stock worth $1,003,000 after acquiring an additional 2,668 shares during the period. Institutional investors and hedge funds own 26.21% of the company's stock.

Insider Transactions at Asana

In related news, Director Justin Rosenstein sold 25,000 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $14.95, for a total value of $373,750.00. Following the completion of the sale, the director directly owned 6,185,398 shares in the company, valued at approximately $92,471,700.10. This represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction on Tuesday, July 1st. The stock was bought at an average cost of $13.58 per share, with a total value of $3,055,500.00. Following the transaction, the chief executive officer directly owned 51,711,191 shares of the company's stock, valued at approximately $702,237,973.78. The trade was a 0.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 1,434,656 shares of company stock worth $20,126,709 and have sold 58,130 shares worth $810,826. 61.28% of the stock is currently owned by company insiders.

Asana Trading Up 4.1%

Asana stock opened at $15.00 on Monday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.16. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The company's fifty day simple moving average is $15.29 and its 200-day simple moving average is $16.97. The stock has a market cap of $3.53 billion, a P/E ratio of -15.00 and a beta of 1.13.

Asana (NYSE:ASAN - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $187.63 million for 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 revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) EPS. As a group, sell-side analysts forecast that Asana, Inc. will post -1.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Asana from $15.00 to $17.00 and gave the company a "hold" rating in a research report on Wednesday, June 4th. Bank of America dropped their price target on Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, June 4th. HSBC reiterated a "reduce" rating and set a $10.00 price objective (down previously from $13.00) on shares of Asana in a research report on Wednesday, June 4th. Scotiabank boosted their target price on Asana from $12.00 to $16.50 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Finally, Royal Bank Of Canada reiterated an "underperform" rating and issued a $10.00 price target on shares of Asana in a research report on Wednesday, June 4th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $15.97.

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.

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