MQS Management LLC Buys New Position in Asana, Inc. (NYSE:ASAN)

MQS Management LLC bought a new stake in Asana, Inc. (NYSE:ASAN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,140 shares of the company’s stock, valued at approximately $141,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ASAN. Swiss National Bank raised its stake in Asana by 2.3% in the first quarter. Swiss National Bank now owns 162,300 shares of the company’s stock valued at $2,514,000 after purchasing an additional 3,600 shares in the last quarter. ProShare Advisors LLC raised its stake in Asana by 12.1% in the first quarter. ProShare Advisors LLC now owns 15,838 shares of the company’s stock valued at $245,000 after purchasing an additional 1,710 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in Asana by 9.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 24,863 shares of the company’s stock valued at $385,000 after purchasing an additional 2,170 shares in the last quarter. Vanguard Group Inc. raised its stake in Asana by 5.6% in the first quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock valued at $144,462,000 after purchasing an additional 490,823 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its stake in Asana by 26.9% in the first quarter. Champlain Investment Partners LLC now owns 4,032,035 shares of the company’s stock valued at $62,456,000 after purchasing an additional 854,355 shares in the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ASAN has been the topic of a number of recent research reports. Robert W. Baird reduced their price target on shares of Asana from $20.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. UBS Group reduced their price target on shares of Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Royal Bank of Canada reiterated an “underperform” rating and set a $10.00 price target on shares of Asana in a research report on Wednesday, October 23rd. JMP Securities reduced their price target on shares of Asana from $27.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Wednesday, September 4th. Finally, Oppenheimer reduced their price target on shares of Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $14.21.

Asana Stock Performance

NYSE:ASAN opened at $13.90 on Friday. The stock has a market cap of $3.17 billion, a P/E ratio of -12.09 and a beta of 1.13. The firm’s fifty day simple moving average is $12.28 and its 200 day simple moving average is $13.30. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $23.44. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14.

Asana (NYSE:ASAN) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $179.21 million during the quarter, compared to analyst estimates of $177.68 million. Asana had a negative return on equity of 81.88% and a negative net margin of 37.73%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.31) earnings per share. As a group, research analysts predict that Asana, Inc. will post -1.14 EPS for the current year.

Insider Transactions at Asana

In related news, COO Anne Raimondi sold 29,807 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the completion of the transaction, the chief operating officer now directly owns 761,088 shares in the company, valued at approximately $9,125,445.12. The trade was a 3.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eleanor B. Lacey sold 4,977 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $58,678.83. Following the transaction, the insider now owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,092 shares of company stock valued at $527,668 in the last quarter. 63.97% of the stock is owned by insiders.

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.