Paragon Capital Management Ltd Has $2.08 Million Position in Asana, Inc. (NYSE:ASAN)

Paragon Capital Management Ltd lowered its holdings in shares of Asana, Inc. (NYSE:ASAN) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,152 shares of the company’s stock after selling 2,000 shares during the quarter. Asana accounts for about 0.4% of Paragon Capital Management Ltd’s portfolio, making the stock its 29th biggest position. Paragon Capital Management Ltd’s holdings in Asana were worth $2,075,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Asana by 2.2% in the third quarter. Vanguard Group Inc. now owns 6,857,364 shares of the company’s stock valued at $152,440,000 after purchasing an additional 148,214 shares in the last quarter. BlackRock Inc. lifted its stake in Asana by 5.5% in the 1st quarter. BlackRock Inc. now owns 6,723,586 shares of the company’s stock valued at $142,069,000 after acquiring an additional 352,684 shares in the last quarter. State Street Corp grew its stake in shares of Asana by 6.5% during the 1st quarter. State Street Corp now owns 2,175,814 shares of the company’s stock worth $86,967,000 after acquiring an additional 131,911 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Asana by 26.6% in the first quarter. Renaissance Technologies LLC now owns 1,577,500 shares of the company’s stock valued at $63,053,000 after purchasing an additional 331,400 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Asana by 780.0% in the first quarter. Two Sigma Investments LP now owns 1,498,311 shares of the company’s stock worth $31,659,000 after purchasing an additional 1,328,050 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Asana Stock Performance

ASAN traded down $0.43 on Friday, reaching $18.25. The company had a trading volume of 2,343,820 shares, compared to its average volume of 2,797,819. Asana, Inc. has a fifty-two week low of $11.32 and a fifty-two week high of $27.14. The company’s fifty day moving average is $21.55 and its 200 day moving average is $20.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.89 and a current ratio of 1.89. The stock has a market cap of $3.96 billion, a P/E ratio of -11.85 and a beta of 1.24.

Asana (NYSE:ASAN) last posted its earnings results on Tuesday, September 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.07. Asana had a negative return on equity of 87.79% and a negative net margin of 54.21%. The company had revenue of $162.46 million for the quarter, compared to the consensus estimate of $157.91 million. During the same quarter in the prior year, the business earned ($0.59) earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, analysts predict that Asana, Inc. will post -1.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ASAN. Morgan Stanley lowered their price target on shares of Asana from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 6th. DA Davidson downgraded Asana from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research report on Friday, June 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $30.00 target price on shares of Asana in a research report on Wednesday, September 6th. Citigroup reaffirmed a “neutral” rating and set a $24.00 price target (down previously from $26.00) on shares of Asana in a research report on Thursday, September 7th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 price target on shares of Asana in a research report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Asana currently has an average rating of “Hold” and an average target price of $22.31.

Insider Activity at Asana

In other Asana news, CEO Dustin A. Moskovitz bought 80,000 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were purchased at an average price of $20.39 per share, for a total transaction of $1,631,200.00. Following the transaction, the chief executive officer now directly owns 42,917,649 shares in the company, valued at approximately $875,090,863.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Lorrie M. Norrington sold 6,200 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $25.01, for a total transaction of $155,062.00. Following the sale, the director now directly owns 107,736 shares of the company’s stock, valued at approximately $2,694,477.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Dustin A. Moskovitz acquired 80,000 shares of Asana stock in a transaction on Monday, September 11th. The shares were purchased at an average price of $20.39 per share, for a total transaction of $1,631,200.00. Following the completion of the purchase, the chief executive officer now directly owns 42,917,649 shares of the company’s stock, valued at $875,090,863.11. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 2,142,347 shares of company stock worth $45,052,535 and have sold 39,959 shares worth $930,488. 63.26% of the stock is currently owned by corporate 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; and manages product launches, marketing campaigns, and organization-wide goal settings.