Headlands Technologies LLC Makes New Investment in Asana, Inc. (NYSE:ASAN)

Headlands Technologies LLC bought a new position in shares of Asana, Inc. (NYSE:ASAN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,732 shares of the company’s stock, valued at approximately $147,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale bought a new position in shares of Asana during the 3rd quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC grew its stake in shares of Asana by 1,015.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520 shares of the company’s stock worth $46,000 after buying an additional 2,294 shares in the last quarter. CWM LLC grew its stake in shares of Asana by 25.5% in the 3rd quarter. CWM LLC now owns 2,772 shares of the company’s stock worth $51,000 after buying an additional 563 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Asana in the 3rd quarter worth about $184,000. Finally, International Assets Investment Management LLC bought a new position in shares of Asana in the 4th quarter valued at about $199,000. 26.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ASAN has been the subject of a number of recent research reports. KeyCorp initiated coverage on Asana in a report on Thursday, March 21st. They issued an “underweight” rating and a $14.00 target price for the company. Piper Sandler boosted their price objective on shares of Asana from $16.00 to $18.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. Finally, Bank of America assumed coverage on shares of Asana in a report on Monday, February 26th. They issued a “buy” rating and a $25.00 target price for the company. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.67.

Asana Stock Up 3.1 %

Shares of Asana stock opened at $15.08 on Monday. Asana, Inc. has a 1 year low of $13.34 and a 1 year high of $26.27. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.80 and a quick ratio of 1.80. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -12.89 and a beta of 1.22. The firm’s 50-day moving average is $16.24 and its two-hundred day moving average is $18.18.

Asana (NYSE:ASAN) last issued its quarterly earnings data on Monday, March 11th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. The company had revenue of $171.14 million during the quarter, compared to the consensus estimate of $167.59 million. Asana had a negative net margin of 39.39% and a negative return on equity of 75.22%. As a group, research analysts expect that Asana, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Asana news, insider Eleanor B. Lacey sold 4,462 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $15.47, for a total value of $69,027.14. Following the completion of the transaction, the insider now directly owns 220,739 shares in the company, valued at $3,414,832.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Eleanor B. Lacey sold 4,462 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $15.47, for a total transaction of $69,027.14. Following the completion of the sale, the insider now owns 220,739 shares in the company, valued at approximately $3,414,832.33. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Anne Raimondi sold 11,779 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total value of $181,161.02. Following the completion of the sale, the chief operating officer now directly owns 492,230 shares of the company’s stock, valued at approximately $7,570,497.40. The disclosure for this sale can be found here. Insiders sold 51,733 shares of company stock worth $788,886 in the last three months. 63.26% of the stock is owned by 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; 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.