Raymond James Financial Services Advisors Inc. Sells 2,766 Shares of Asana, Inc. (NYSE:ASAN)

Raymond James Financial Services Advisors Inc. lowered its stake in Asana, Inc. (NYSE:ASAN – Get Rating) by 8.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,577 shares of the company’s stock after selling 2,766 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Asana were worth $635,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ASAN. FMR LLC raised its holdings in Asana by 120.4% in the 2nd quarter. FMR LLC now owns 1,578 shares of the company’s stock valued at $28,000 after buying an additional 862 shares during the last quarter. Performa Ltd US LLC raised its holdings in Asana by 580.0% in the 2nd quarter. Performa Ltd US LLC now owns 1,700 shares of the company’s stock valued at $30,000 after buying an additional 1,450 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in Asana by 48.1% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 4,366 shares of the company’s stock valued at $77,000 after buying an additional 1,418 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Asana by 47.0% in the 1st quarter. Advisors Asset Management Inc. now owns 2,715 shares of the company’s stock valued at $109,000 after buying an additional 868 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in Asana by 95.6% in the 2nd quarter. National Bank of Canada FI now owns 6,769 shares of the company’s stock valued at $119,000 after buying an additional 3,309 shares during the last quarter. Institutional investors own 28.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Asana from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, January 9th. Credit Suisse Group decreased their price objective on shares of Asana to $18.00 in a research report on Friday, December 2nd. Jefferies Financial Group dropped their target price on shares of Asana from $18.00 to $15.00 and set a “hold” rating on the stock in a report on Friday, January 6th. Morgan Stanley decreased their price target on Asana from $26.00 to $19.00 and set an “equal weight” rating for the company in a report on Friday, December 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on Asana from $22.00 to $19.00 and set an “underweight” rating on the stock in a research note on Monday, November 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.77.

Asana Stock Down 3.2 %

Shares of NYSE:ASAN opened at $13.96 on Wednesday. The business’s 50 day simple moving average is $15.04 and its two-hundred day simple moving average is $19.04. The firm has a market cap of $2.97 billion, a P/E ratio of -6.71 and a beta of 1.19. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.11 and a current ratio of 2.11. Asana, Inc. has a 52-week low of $11.32 and a 52-week high of $74.89.

Asana (NYSE:ASAN – Get Rating) last announced its quarterly earnings results on Thursday, December 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.04. The business had revenue of $141.44 million for the quarter, compared to analyst estimates of $138.97 million. Asana had a negative return on equity of 190.24% and a negative net margin of 79.14%. As a group, research analysts forecast that Asana, Inc. will post -2.06 EPS for the current fiscal year.

Asana Company Profile

(Get Rating)

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. The company's platform enables teams to orchestrate work from daily tasks to cross-functional strategic initiatives; and manages product launches, marketing campaigns, and organization-wide goal settings.