International Assets Investment Management LLC Makes New $199,000 Investment in Asana, Inc. (NYSE:ASAN)

International Assets Investment Management LLC acquired a new position in shares of Asana, Inc. (NYSE:ASAN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,456 shares of the company’s stock, valued at approximately $199,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ASAN. Vanguard Group Inc. lifted its stake in shares of Asana by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,213,830 shares of the company’s stock valued at $168,705,000 after purchasing an additional 434,003 shares during the last quarter. Trexquant Investment LP lifted its stake in shares of Asana by 83.7% in the 3rd quarter. Trexquant Investment LP now owns 202,709 shares of the company’s stock valued at $3,712,000 after purchasing an additional 92,387 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Asana by 10.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 652,713 shares of the company’s stock valued at $11,951,000 after purchasing an additional 61,141 shares during the last quarter. Dark Forest Capital Management LP lifted its stake in shares of Asana by 132.9% in the 3rd quarter. Dark Forest Capital Management LP now owns 55,177 shares of the company’s stock valued at $1,010,000 after purchasing an additional 31,489 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Asana by 252.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 232,200 shares of the company’s stock valued at $4,252,000 after purchasing an additional 166,400 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

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

Asana Price Performance

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

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

Insider Transactions at Asana

In other news, insider Eleanor B. Lacey sold 5,387 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $15.46, for a total transaction of $83,283.02. Following the completion of the transaction, the insider now directly owns 225,201 shares of the company’s stock, valued at approximately $3,481,607.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Eleanor B. Lacey sold 5,387 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $15.46, for a total transaction of $83,283.02. Following the completion of the transaction, the insider now directly owns 225,201 shares of the company’s stock, valued at approximately $3,481,607.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Anne Raimondi sold 11,779 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total value of $181,161.02. Following the transaction, the chief operating officer now directly owns 492,230 shares of the company’s stock, valued at $7,570,497.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,733 shares of company stock valued at $788,886. 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; 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.