Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in Asana, Inc. (NYSE:ASAN)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Asana, Inc., purchasing 19,580 shares valued at approximately $285,000 in the first quarter.
• Insider trading activity included CEO Dustin A. Moskovitz buying 225,000 shares, increasing his ownership, while Director Justin Rosenstein sold 966,576 shares, reducing his stake by 16.77%.
• Asana reported a positive earnings surprise with $0.05 earnings per share for the last quarter, surpassing analysts' expectations and showing an 8.6% year-over-year revenue increase.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,580 shares of the company's stock, valued at approximately $285,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its stake in Asana by 8.1% during the fourth 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 lifted its stake in Asana by 25.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock worth $43,574,000 after acquiring an additional 438,057 shares during the last quarter. First Trust Advisors LP lifted its stake in Asana by 17.6% in the fourth quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock worth $35,350,000 after acquiring an additional 261,298 shares during the last quarter. Two Sigma Investments LP lifted 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 worth $28,481,000 after buying an additional 1,043,047 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its position in Asana by 0.5% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 1,377,704 shares of the company's stock valued at $27,926,000 after purchasing an additional 7,269 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company's stock.

Asana Stock Performance

ASAN traded up $0.55 on Wednesday, hitting $14.66. The company had a trading volume of 3,254,981 shares, compared to its average volume of 3,420,381. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -14.66 and a beta of 1.14. The company's fifty day moving average price is $14.57 and its 200 day moving average price is $16.57. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47.

Asana (NYSE:ASAN - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $185.40 million. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.06) EPS. Equities analysts predict that Asana, Inc. will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Asana

In other Asana news, Director Dustin A. Moskovitz purchased 225,000 shares of the company's stock in a transaction dated Monday, August 4th. The shares were bought at an average price of $14.38 per share, with a total value of $3,235,500.00. Following the completion of the transaction, the director directly owned 55,530,999 shares in the company, valued at $798,535,765.62. This trade represents a 0.41% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justin Rosenstein sold 517,635 shares of Asana stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $15.04, for a total value of $7,785,230.40. Following the completion of the sale, the director directly owned 3,210,398 shares in the company, valued at approximately $48,284,385.92. This represents a 13.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 3,007,563 shares of company stock worth $43,224,404 and have sold 3,033,130 shares worth $45,552,218. 61.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on ASAN. Bank of America dropped their price objective on shares of Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, June 4th. Scotiabank boosted their price objective on shares of Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. HSBC reiterated a "reduce" rating and set a $10.00 price objective (down from $13.00) on shares of Asana in a report on Wednesday, June 4th. Jefferies Financial Group raised their price target on shares of Asana from $15.00 to $17.00 and gave the company a "hold" rating in a report on Wednesday, June 4th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $22.00 price objective on shares of Asana in a research report on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $15.97.

Asana 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.