Intech Investment Management LLC Makes New Investment in Asana, Inc. (NYSE:ASAN)

Intech Investment Management LLC bought a new stake in shares of Asana, Inc. (NYSE:ASAN) in the 3rd quarter, HoldingsChannel reports. The fund bought 39,303 shares of the company’s stock, valued at approximately $456,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ASAN. Headlands Technologies LLC raised its stake in Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after acquiring an additional 2,220 shares during the period. KBC Group NV lifted its stake in Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after purchasing an additional 1,211 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Asana in the 3rd quarter valued at $43,000. Redwood Wealth Management Group LLC bought a new position in Asana during the 2nd quarter worth approximately $65,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Asana by 26.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after acquiring an additional 1,028 shares during the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ASAN shares. UBS Group cut their target price on shares of Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Oppenheimer dropped their price objective on Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Piper Sandler lowered their price target on Asana from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. cut their target price on shares of Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research report on Wednesday, September 4th. Finally, JMP Securities lowered their price objective on Asana from $27.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $14.27.

Insider Buying and Selling at Asana

In other news, COO Anne Raimondi sold 29,807 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $357,385.93. Following the completion of the transaction, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. The trade was a 3.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eleanor B. Lacey sold 9,308 shares of Asana stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $111,602.92. Following the completion of the transaction, the insider now directly owns 375,310 shares in the company, valued at approximately $4,499,966.90. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,092 shares of company stock valued at $527,668 in the last three months. Company insiders own 63.97% of the company’s stock.

Asana Trading Down 1.2 %

Shares of ASAN stock opened at $15.12 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. The stock’s 50 day simple moving average is $12.88 and its two-hundred day simple moving average is $13.23. The company has a market cap of $3.45 billion, a PE ratio of -13.14 and a beta of 1.13. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $23.44.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Asana had a negative return on equity of 81.88% and a negative net margin of 37.73%. The firm had revenue of $179.21 million during the quarter, compared to analyst estimates of $177.68 million. During the same period last year, the company earned ($0.31) EPS. Asana’s quarterly revenue was up 10.3% compared to the same quarter last year. Research analysts predict that Asana, Inc. will post -1.14 earnings per share for the current year.

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.