SG Americas Securities LLC Takes Position in Asana, Inc. (NYSE:ASAN)

SG Americas Securities LLC acquired a new stake in Asana, Inc. (NYSE:ASAN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 39,302 shares of the company’s stock, valued at approximately $456,000.

Other large investors also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in Asana in the 2nd quarter valued at $17,100,000. Susquehanna Fundamental Investments LLC bought a new stake in Asana in the 2nd quarter valued at $3,050,000. Scientech Research LLC bought a new stake in Asana in the 2nd quarter valued at $146,000. The Manufacturers Life Insurance Company increased its position in Asana by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock worth $687,000 after buying an additional 1,888 shares during the period. Finally, AQR Capital Management LLC increased its position in Asana by 25.6% during the 2nd quarter. AQR Capital Management LLC now owns 32,503 shares of the company’s stock worth $444,000 after buying an additional 6,634 shares during the period. Institutional investors and hedge funds own 26.21% of the company’s stock.

Insider Activity

In other news, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the sale, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the sale, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eleanor B. Lacey sold 4,977 shares of Asana stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $58,678.83. Following the sale, the insider now directly owns 370,333 shares in the company, valued at $4,366,226.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,092 shares of company stock valued at $602,668. 63.97% of the stock is currently owned by corporate insiders.

Asana Stock Performance

NYSE:ASAN opened at $12.13 on Thursday. The stock’s 50-day simple moving average is $12.45 and its 200 day simple moving average is $13.54. The firm has a market capitalization of $2.77 billion, a PE ratio of -10.36 and a beta of 1.14. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $23.44.

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

Asana declared that its Board of Directors has initiated a share buyback program on Thursday, June 20th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to purchase up to 5.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

ASAN has been the topic of several recent research reports. Morgan Stanley lowered their price objective on Asana from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 20th. 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. JPMorgan Chase & Co. lowered their price objective on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday, September 4th. UBS Group lowered their price objective on Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, DA Davidson restated a “neutral” rating and issued a $11.00 price target (down previously from $14.00) on shares of Asana in a research report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.07.

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.