Asana, Inc. (NYSE:ASAN) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System increased its stake in shares of Asana, Inc. (NYSE:ASANGet Rating) by 14.2% in the 4th quarter, HoldingsChannel reports. The firm owned 19,484 shares of the company’s stock after purchasing an additional 2,427 shares during the period. Arizona State Retirement System’s holdings in Asana were worth $268,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ASAN. FMR LLC grew its stake in Asana by 120.4% during the 2nd quarter. FMR LLC now owns 1,578 shares of the company’s stock worth $28,000 after purchasing an additional 862 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Asana by 12,625.0% during the 3rd quarter. Lazard Asset Management LLC now owns 4,072 shares of the company’s stock worth $90,000 after buying an additional 4,040 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Asana by 47.0% during the 1st quarter. Advisors Asset Management Inc. now owns 2,715 shares of the company’s stock worth $109,000 after buying an additional 868 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Asana by 30.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,918 shares of the company’s stock worth $137,000 after buying an additional 2,318 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in Asana during the 4th quarter worth about $140,000. 28.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ASAN. Credit Suisse Group reaffirmed a “neutral” rating and set a $18.00 price target on shares of Asana in a report on Monday, March 13th. Oppenheimer lifted their price target on Asana from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, March 9th. Piper Sandler boosted their target price on Asana from $13.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, March 9th. Jefferies Financial Group boosted their target price on Asana from $15.00 to $23.00 in a report on Thursday, March 9th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $10.00 target price on shares of Asana in a report on Thursday, March 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $21.84.

Asana Stock Performance

Shares of ASAN stock opened at $20.88 on Wednesday. The stock has a market capitalization of $4.48 billion, a PE ratio of -10.24 and a beta of 1.34. Asana, Inc. has a 52-week low of $11.32 and a 52-week high of $29.51. The stock’s 50-day moving average price is $18.85 and its 200 day moving average price is $16.83. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.13.

Asana (NYSE:ASANGet Rating) last issued its quarterly earnings results on Wednesday, March 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.07. Asana had a negative return on equity of 159.46% and a negative net margin of 74.52%. The firm had revenue of $150.23 million for the quarter, compared to analysts’ expectations of $145.13 million. As a group, equities research analysts forecast that Asana, Inc. will post -1.48 EPS for the current year.

Insiders Place Their Bets

In other Asana news, CFO Tim M. Wan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $21.31, for a total transaction of $426,200.00. Following the transaction, the chief financial officer now owns 607,051 shares in the company, valued at approximately $12,936,256.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Tim M. Wan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $21.31, for a total value of $426,200.00. Following the sale, the chief financial officer now owns 607,051 shares in the company, valued at approximately $12,936,256.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Tim M. Wan sold 3,336 shares of the company’s stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $20.86, for a total value of $69,588.96. Following the completion of the sale, the chief financial officer now owns 603,715 shares in the company, valued at approximately $12,593,494.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,346 shares of company stock worth $538,214. Company insiders own 61.87% of the company’s stock.

Asana 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.

Further Reading

Want to see what other hedge funds are holding ASAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Asana, Inc. (NYSE:ASANGet Rating).

Institutional Ownership by Quarter for Asana (NYSE:ASAN)

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