Jupiter Asset Management Ltd. bought a new position in shares of Asana, Inc. (NYSE:ASAN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 115,151 shares of the company's stock, valued at approximately $1,678,000.
Other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. bought a new position in Asana during the fourth quarter worth about $585,000. LPL Financial LLC raised its position in Asana by 81.9% in the 4th quarter. LPL Financial LLC now owns 42,752 shares of the company's stock worth $867,000 after purchasing an additional 19,255 shares during the last quarter. Norges Bank bought a new position in Asana in the 4th quarter worth approximately $4,617,000. Pictet Asset Management Holding SA acquired a new stake in Asana during the 4th quarter worth $239,000. Finally, Alliancebernstein L.P. grew its holdings in Asana by 144.9% during the 4th quarter. Alliancebernstein L.P. now owns 214,266 shares of the company's stock worth $4,343,000 after acquiring an additional 126,766 shares during the period. 26.21% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Asana
In related news, Director Justin Rosenstein sold 517,635 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $15.04, for a total transaction of $7,785,230.40. Following the sale, the director owned 3,210,398 shares in the company, valued at approximately $48,284,385.92. This trade represents a 13.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction that occurred on Monday, August 4th. The shares were purchased at an average price of $14.38 per share, for a total transaction of $3,235,500.00. Following the transaction, the director directly owned 55,530,999 shares in the company, valued at $798,535,765.62. This represents a 0.41% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 3,007,563 shares of company stock worth $43,224,404 and have sold 3,033,130 shares worth $45,552,218. Company insiders own 61.28% of the company's stock.
Asana Stock Up 3.9%
NYSE:ASAN traded up $0.55 during trading hours on Wednesday, reaching $14.66. 3,254,981 shares of the company were exchanged, compared to its average volume of 3,448,267. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $14.57 and a 200 day moving average of $16.57.
Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. The business had revenue of $187.63 million for the quarter, compared to the consensus estimate of $185.40 million. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.06) earnings per share. On average, equities research analysts anticipate that Asana, Inc. will post -1.09 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have commented on ASAN. FBN Securities raised shares of Asana to a "strong-buy" rating in a report on Wednesday, June 4th. Morgan Stanley cut their price objective on shares of Asana from $14.00 to $13.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 4th. Jefferies Financial Group boosted 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. Royal Bank Of Canada reaffirmed an "underperform" rating and issued a $10.00 price objective on shares of Asana in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 4th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $15.97.
View Our Latest Analysis on Asana
About Asana
(
Free Report)
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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