Blueshift Asset Management LLC Makes New $642,000 Investment in Asana, Inc. (NYSE:ASAN)

Blueshift Asset Management LLC bought a new stake in Asana, Inc. (NYSE:ASANFree Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 55,402 shares of the company’s stock, valued at approximately $642,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ASAN. Headlands Technologies LLC lifted its holdings in shares of Asana by 327.9% during the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after purchasing an additional 2,220 shares during the period. KBC Group NV lifted its stake in shares of Asana by 52.1% in the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after acquiring an additional 1,211 shares during the period. Quest Partners LLC acquired a new stake in shares of Asana in the 3rd quarter worth $43,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Asana in the second quarter valued at about $65,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of Asana by 26.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after acquiring an additional 1,028 shares during the period. 26.21% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total value 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. This represents a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eleanor B. Lacey sold 9,308 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $111,602.92. Following the completion of the sale, the insider now directly owns 375,310 shares in the company, valued at approximately $4,499,966.90. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,092 shares of company stock valued at $527,668 in the last ninety days. Insiders own 63.97% of the company’s stock.

Asana Trading Down 1.8 %

Shares of Asana stock opened at $15.15 on Thursday. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $23.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. The business has a 50 day moving average price of $12.76 and a 200 day moving average price of $13.25. The company has a market capitalization of $3.46 billion, a P/E ratio of -13.17 and a beta of 1.13.

Asana (NYSE:ASANGet Free Report) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $179.21 million for the quarter, compared to the consensus estimate of $177.68 million. Asana had a negative return on equity of 81.88% and a negative net margin of 37.73%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.31) earnings per share. Sell-side analysts anticipate that Asana, Inc. will post -1.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ASAN. UBS Group reduced their price objective on shares of Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Piper Sandler decreased their price target on Asana from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Citigroup dropped their price objective on Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. reduced their target price on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, September 4th. Finally, Bank of America lowered their price target on shares of Asana from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Asana presently has a consensus rating of “Hold” and an average price target of $14.27.

Get Our Latest Stock Report on ASAN

Asana Company Profile

(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.

See Also

Institutional Ownership by Quarter for Asana (NYSE:ASAN)

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