Asana, Inc. (NYSE:ASAN) Stake Lifted by HighTower Advisors LLC

HighTower Advisors LLC increased its stake in Asana, Inc. (NYSE:ASAN – Get Rating) by 35.2% in the 4th quarter, HoldingsChannel reports. The fund owned 108,750 shares of the company’s stock after acquiring an additional 28,296 shares during the period. HighTower Advisors LLC’s holdings in Asana were worth $1,498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC boosted its holdings in shares of Asana by 120.4% in the second quarter. FMR LLC now owns 1,578 shares of the company’s stock valued at $28,000 after acquiring an additional 862 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Asana by 12,625.0% in the third quarter. Lazard Asset Management LLC now owns 4,072 shares of the company’s stock valued at $90,000 after acquiring an additional 4,040 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Asana by 47.0% in the first quarter. Advisors Asset Management Inc. now owns 2,715 shares of the company’s stock valued at $109,000 after acquiring an additional 868 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Asana by 30.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,918 shares of the company’s stock valued at $137,000 after acquiring an additional 2,318 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in shares of Asana in the fourth quarter valued at approximately $140,000. 28.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Royal Bank of Canada restated an “underperform” rating and set a $10.00 target price on shares of Asana in a report on Thursday, March 9th. JMP Securities restated a “market outperform” rating and set a $28.00 target price on shares of Asana in a report on Thursday, April 6th. Robert W. Baird raised their target price on shares of Asana from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, March 9th. DA Davidson raised their target price on shares of Asana from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, March 9th. Finally, Piper Sandler raised their target price on shares of Asana from $13.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, March 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Asana presently has a consensus rating of “Hold” and an average target price of $21.84.

Asana Stock Down 1.9 %

Shares of NYSE:ASAN opened at $20.53 on Friday. Asana, Inc. has a 52 week low of $11.32 and a 52 week high of $29.51. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market cap of $4.40 billion, a PE ratio of -10.06 and a beta of 1.33. The firm has a 50 day simple moving average of $18.79 and a 200 day simple moving average of $16.89.

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

Insiders Place Their Bets

In other Asana news, CFO Tim M. Wan sold 3,336 shares of the stock in a transaction that occurred on Thursday, March 23rd. The shares were 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Eleanor B. Lacey sold 1,321 shares of the firm’s stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $20.86, for a total transaction of $27,556.06. Following the transaction, the insider now owns 165,300 shares in the company, valued at approximately $3,448,158. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tim M. Wan sold 3,336 shares of the firm’s stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $20.86, for a total transaction of $69,588.96. Following the transaction, 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. Insiders sold a total of 25,346 shares of company stock worth $538,214 in the last quarter. 61.87% of the stock is currently owned by corporate insiders.

Asana Profile

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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.