Asana, Inc. (NYSE:ASAN) Shares Acquired by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management Inc. increased its stake in Asana, Inc. by 27.7%, acquiring an additional 21,481 shares, bringing its total holdings to 99,057 shares valued at approximately $1.44 million.
• In recent trading, Asana's shares opened at $15.05 with a market cap of $3.54 billion, while the company reported earnings per share of $0.05, exceeding analyst estimates.
• Insider trading activity included CEO Dustin A. Moskovitz purchasing 225,000 shares and Director Justin Rosenstein selling 966,576 shares, reflecting significant movement within the company’s stock ownership.

Meeder Asset Management Inc. boosted its holdings in Asana, Inc. (NYSE:ASAN - Free Report) by 27.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,057 shares of the company's stock after purchasing an additional 21,481 shares during the period. Meeder Asset Management Inc.'s holdings in Asana were worth $1,443,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ASAN. Voya Investment Management LLC raised 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 period. Voloridge Investment Management LLC increased its holdings in Asana by 25.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock worth $43,574,000 after buying an additional 438,057 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Asana in the fourth quarter worth about $38,966,000. First Trust Advisors LP grew its position in shares of Asana by 17.6% during the 4th quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock valued at $35,350,000 after acquiring an additional 261,298 shares during the period. Finally, Two Sigma Investments LP grew its position in shares of Asana by 288.1% during the 4th quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock valued at $28,481,000 after acquiring an additional 1,043,047 shares during the period. Institutional investors own 26.21% of the company's stock.

Insider Activity at Asana

In other Asana news, Director Justin Rosenstein sold 517,635 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $15.04, for a total transaction 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 approximately $48,284,385.92. This trade represents a 13.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dustin A. Moskovitz acquired 225,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average cost of $15.24 per share, for a total transaction of $3,429,000.00. Following the completion of the transaction, the director directly 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 2,557,563 shares of company stock valued at $36,829,904 and have sold 3,033,130 shares valued at $45,552,218. Insiders own 61.28% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ASAN. Wall Street Zen raised shares of Asana from a "hold" rating to a "buy" rating in a report on Friday, June 6th. KeyCorp reiterated a "sector weight" rating on shares of Asana in a research report on Wednesday, June 4th. Robert W. Baird increased their price target on shares of Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Bank of America reduced their price objective on shares of Asana from $23.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, June 4th. Finally, Royal Bank Of Canada reiterated an "underperform" rating and issued a $10.00 target price on shares of Asana in a research note on Wednesday, June 4th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $15.97.

Asana Price Performance

Shares of ASAN traded down $0.73 during midday trading on Friday, hitting $13.95. 2,261,918 shares of the company traded hands, compared to its average volume of 3,419,040. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The firm has a market cap of $3.28 billion, a P/E ratio of -13.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a 50-day moving average of $14.77 and a 200-day moving average of $16.70.

Asana (NYSE:ASAN - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. The firm had revenue of $187.63 million during the quarter, compared to the consensus estimate of $185.40 million. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. During the same period last year, the firm earned ($0.06) EPS. The business's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts predict that Asana, Inc. will post -1.09 EPS for the current fiscal year.

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.