Vanguard Group Inc. Sells 378,508 Shares of Asana, Inc. (NYSE:ASAN)

Vanguard Group Inc. lowered its stake in shares of Asana, Inc. (NYSE:ASAN) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,835,322 shares of the company’s stock after selling 378,508 shares during the quarter. Vanguard Group Inc.’s holdings in Asana were worth $167,959,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in Asana by 15.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock worth $33,891,000 after purchasing an additional 235,135 shares during the period. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Asana during the 4th quarter worth approximately $25,246,000. Charles Schwab Investment Management Inc. boosted its holdings in Asana by 6.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 696,277 shares of the company’s stock valued at $13,236,000 after acquiring an additional 43,564 shares during the period. Norges Bank purchased a new position in Asana during the 4th quarter valued at $7,500,000. Finally, Ghisallo Capital Management LLC purchased a new stake in Asana in the fourth quarter worth $3,731,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Stock Down 0.5 %

Shares of ASAN stock opened at $13.46 on Thursday. The stock’s fifty day moving average price is $14.09 and its 200 day moving average price is $16.26. Asana, Inc. has a 1-year low of $11.29 and a 1-year high of $24.81. The company has a market cap of $3.07 billion, a price-to-earnings ratio of -11.50 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.71 and a quick ratio of 1.71.

Asana (NYSE:ASAN) last released its earnings results on Thursday, May 30th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. Asana had a negative net margin of 38.55% and a negative return on equity of 77.48%. The company had revenue of $172.45 million during the quarter, compared to analysts’ expectations of $168.53 million. On average, research analysts expect that Asana, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Asana

In other news, CFO Tim M. Wan sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $15.00, for a total value of $150,000.00. Following the completion of the transaction, the chief financial officer now directly owns 753,888 shares in the company, valued at $11,308,320. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Tim M. Wan sold 28,856 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $11.44, for a total transaction of $330,112.64. Following the sale, the chief financial officer now owns 1,050,284 shares in the company, valued at $12,015,248.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Tim M. Wan sold 10,000 shares of Asana stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $15.00, for a total transaction of $150,000.00. Following the completion of the transaction, the chief financial officer now directly owns 753,888 shares of the company’s stock, valued at approximately $11,308,320. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,443 shares of company stock worth $1,101,976. 63.97% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ASAN shares. UBS Group lowered their target price on shares of Asana from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. JMP Securities restated a “market outperform” rating and issued a $27.00 target price on shares of Asana in a research note on Friday, May 31st. KeyCorp reduced their target price on shares of Asana from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. Oppenheimer lowered their price target on Asana from $28.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Finally, HSBC upgraded Asana from a “reduce” rating to a “hold” rating and reduced their price objective for the stock from $16.00 to $14.00 in a report on Monday, June 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.33.

About Asana

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.