Vanguard Group Inc. Has $167.96 Million Stock Holdings in Asana, Inc. (NYSE:ASAN)

Vanguard Group Inc. lowered its holdings in shares of Asana, Inc. (NYSE:ASAN) by 4.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,835,322 shares of the company’s stock after selling 378,508 shares during the period. Vanguard Group Inc. owned about 3.97% of Asana worth $167,959,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Asana by 26.2% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock worth $61,000 after acquiring an additional 669 shares during the last quarter. Headlands Technologies LLC bought a new position in Asana in the 4th quarter valued at approximately $147,000. Victory Capital Management Inc. acquired a new stake in Asana in the fourth quarter valued at approximately $197,000. International Assets Investment Management LLC bought a new stake in shares of Asana during the fourth quarter worth $199,000. Finally, Quest Partners LLC acquired a new position in shares of Asana during the fourth quarter worth $260,000. 26.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. KeyCorp cut their price objective on Asana from $14.00 to $13.00 and set an “underweight” rating on the stock in a report on Friday, May 31st. Jefferies Financial Group reduced their price target on Asana from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, May 31st. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price objective on shares of Asana in a report on Friday, May 31st. Citigroup reduced their target price on shares of Asana from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Finally, Oppenheimer dropped their price target on shares of Asana from $28.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Asana currently has an average rating of “Hold” and a consensus price target of $18.33.

Asana Stock Down 0.5 %

Shares of NYSE:ASAN opened at $13.46 on Thursday. Asana, Inc. has a 1 year low of $11.29 and a 1 year high of $24.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.71 and a quick ratio of 1.71. The business’s 50-day moving average is $14.09 and its 200-day moving average is $16.26. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -11.50 and a beta of 1.16.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Thursday, May 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.02. The firm had revenue of $172.45 million for the quarter, compared to analyst estimates of $168.53 million. Asana had a negative return on equity of 77.48% and a negative net margin of 38.55%. Equities research analysts predict that Asana, Inc. will post -1.04 earnings per share for the current year.

Insider Transactions at Asana

In other news, insider Eleanor B. Lacey sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $11.44, for a total transaction of $102,960.00. Following the completion of the sale, the insider now owns 389,149 shares in the company, valued at $4,451,864.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Eleanor B. Lacey sold 9,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $11.44, for a total transaction of $102,960.00. Following the completion of the sale, the insider now directly owns 389,149 shares of the company’s stock, valued at $4,451,864.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Tim M. Wan sold 10,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $11,308,320. The disclosure for this sale can be found here. Insiders have sold 89,443 shares of company stock valued at $1,101,976 in the last 90 days. 63.97% of the stock is currently owned by corporate insiders.

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.