Asana, Inc. (NYSE:ASAN) Shares Acquired by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC lifted its stake in shares of Asana, Inc. (NYSE:ASAN) by 13.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,276 shares of the company’s stock after purchasing an additional 4,401 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Asana were worth $728,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Asana by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,213,830 shares of the company’s stock worth $168,705,000 after purchasing an additional 434,003 shares during the period. Trexquant Investment LP grew its stake in shares of Asana by 83.7% during the 3rd quarter. Trexquant Investment LP now owns 202,709 shares of the company’s stock worth $3,712,000 after purchasing an additional 92,387 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Asana by 10.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 652,713 shares of the company’s stock worth $11,951,000 after purchasing an additional 61,141 shares during the period. Dark Forest Capital Management LP grew its stake in 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 acquiring an additional 31,489 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in 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 acquiring an additional 166,400 shares during the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on ASAN. KeyCorp began coverage on shares of Asana in a research note on Thursday, March 21st. They issued an “underweight” rating and a $14.00 price objective on the stock. Bank of America began coverage on shares of Asana in a research note on Monday, February 26th. They issued a “buy” rating and a $25.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.67.

Insider Transactions at Asana

In other news, CFO Tim M. Wan sold 10,105 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $15.38, for a total transaction of $155,414.90. Following the transaction, the chief financial officer now directly owns 753,888 shares in the company, valued at approximately $11,594,797.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Tim M. Wan sold 10,105 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $15.38, for a total transaction of $155,414.90. Following the completion of the sale, the chief financial officer now owns 753,888 shares of the company’s stock, valued at approximately $11,594,797.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eleanor B. Lacey sold 4,462 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 220,739 shares of the company’s stock, valued at approximately $3,414,832.33. The disclosure for this sale can be found here. Insiders have sold a total of 51,733 shares of company stock worth $788,886 in the last three months. Company insiders own 63.97% of the company’s stock.

Asana Price Performance

NYSE:ASAN opened at $15.27 on Thursday. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of -13.05 and a beta of 1.22. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average is $15.13 and its two-hundred day moving average is $17.78. Asana, Inc. has a 12-month low of $13.34 and a 12-month high of $26.27.

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

Asana Company 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.